1. Delivering Valuation Services in Changing Times Challenges & Opportunities John O’Sullivan Commissioner of Valuation and CEO, Valuation Office 20 th June 2013

2. Valuation Office Ireland’s State Valuation Agency Rating Authorities and Non-domestic Rates No. of Staff: 130 Operating Budget 2013: €9 million

3. Valuation System in Context Rates: Tax on occupation of non-domestic property Contributes c. €1.3 billion per annum towards funding Local Authorities Based on Rental Values Challenges: – Evidence-based process – Pace of revaluation

4. Key Organisational Drivers for VO

5. Revaluation – Public Policy Objectives Equity and Uniformity Transparency – reflect current market rental values Independent and objective outcomes Redistribution of rates liability Rolling revaluation: every 5-10 years Government’s Action Plan for Jobs 2012

6. Challenges Market Activity Complexity of modern rental arrangements Expectation of Ratepayers Pace of Revaluation

7. How are we changing? Strong partnerships with representative bodies and professional agents Providing more and better information to Ratepayers Increasing public understanding of what we do Adopting more standardised processes Engaging with peer organisations in other jurisdictions Harnessing Web to interact with customers Better range of internal ICT analysis & support tools

8. People, Processes & Technology Better use of staff resources Improved business processes – Better data collection techniques – Data Analysis Broadening online service offering Use of external datasets Harnessing mobile technology New Legislation

9. Valuation (Amendment) (No. 2) Bill 2012 Accelerate the National Revaluation Programme – Improve VO operations – Provide for additional valuation approaches: – Self Assessment – Contracting External Valuation Services (Outsourcing) and – Better use of ICT and Statistical Resources

10. Improving Internal VO processes Better use of Statistics & Market Data Augments current valuation approaches Combining Professional Valuer core skills with statistical analysis of physical and market data and spatial information databases

11. Valuation: Multi-faceted approach Conversion & Interpretation of historical data Central Market Analysis Unit in operation Extensive database of recorded market transactions Electronic Market Analysis System in place ICT-supported valuation processes extended New skills for valuers

12. Making it Happen Market Analysis Database Market Analysis Modelling tools Statistically-informed comparisons Validation using third-party datasets Geographical Information Systems (GIS) & Spatial Analysis tools Mobile apps

13. Other Developments Merger of VO with PRA and OSi Integrated Data Model Shared Services: Technical Infrastructures Priority: ICT Disaster Recovery/Business Continuity capability ISDI

14. Conclusions People – Process – Technology Not about Technology.......it’s about Delivering Services!