Rents Based on the TCD Leasing Powers Act
This table is based on the assumption that the total rental of Ireland fluctuated annually according to the principles laid down in the TCD leasing powers act (14 & 15 Vict., c. cxxviii ( 1 Aug. 1851)). It shows the results obtained by using two different price series and two different starting prices.
The starting prices, against which subsequent prices were measured, were the 'standard prices' in the act and the prices in the 1952 valuation act. The starting rent was assumed to be the total tenement valuation of land, excluding buildings (£9.1 million), reduced by 3 per cent (to £8.8 million); the starting rent fluctuated with the prices of the commodities in the act; the weights applied to each commodity were those in the act (wheat 1/11, oats 5/11, beef 2/11, mutton 1/11, and butter 2/11).
|Year||Standard prices||1852 act prices||Average|