peterc
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Posts: 14
Date Registered: 16/08/2010
Local Property Tax
Date: February 15, 2013 05:32PM
Hi all,

Just thought I'd share with you some digging around I've done with respect to liability we might expect for the local property tax which starts this year.

The property tax will be applied based on bands, with an annual tax of 0.18% based on the midpoint of that band.

According to the property price register, there were 10 houses sold in SH in 2012 - with an average price of 319,550.00

This puts us in the middle of the 300,001 to 350,000 band, and gives a liability of 292 euro for 2013 and 585 per year for 2014/15/16. It will be the same amount with no increase (irrespecitve of market price change etc) through 2016.

We will all be getting letters from revenue telling us which band we are in - according to the property price register we should be in band 6 - so it will be interesting to see if they say different!

Just FYI!!

Sources:

[tinyurl.com]
[www.revenue.ie]

MartinL
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Posts: 61
Date Registered: 11/11/2008
Re: Local Property Tax
Date: March 11, 2013 11:22PM
Did you sell your research to Revenue?

Bang on accurate.

peterc
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Posts: 14
Date Registered: 16/08/2010
Re: Local Property Tax
Date: March 19, 2013 09:58PM
Just got my form. Revenue provide a 'Notice of Estimate' at Band 7, however I will be self-assessing in Band 6 according to the above.

Would be interested to know if other SH residents also got their form, whether they got the same Notice of Estimate, and how they plan to self-assess.

thanks
Peter

JohnSnow
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Posts: 1
Date Registered: 19/03/2013
Re: Local Property Tax
Date: March 19, 2013 11:52PM
Property price register has the final sold price of all the homes auctioned in the area for the last few years and is a good reference. Quite a difference (100k one instance) in what revenue have estimated and what the actual final selling value was of some of the properties. I'll be using this as a guide when responding to them.

peterc
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Posts: 14
Date Registered: 16/08/2010
Re: Local Property Tax
Date: March 21, 2013 11:06AM
Since I did the analysis (first post in thread) two new SH sales have appeared on the register. Both are in Band 6.

Revenue is sending a Notice Of Assessment at Band 7. This is NOT an 'amount due', rather it is the amount they will take from you if you refuse to cooperate. It is still self-assessment. The data provided by revenue indicate SH is Band 6.

MartinL
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Posts: 61
Date Registered: 11/11/2008
Re: Local Property Tax
Date: April 03, 2013 09:00PM
Just got notice of LPT in my online ROS account. The estimate provided is in Band 6, ie. 292 euro for 6 months. This tallies with the revenue guidelines for this area, and 2 recent sales in SH as well.
Not nice, but the Troika insists!

peterc
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Posts: 14
Date Registered: 16/08/2010
Re: Local Property Tax
Date: October 25, 2013 07:00PM
Just got my 2014 LPT bill. They seem to have accepted my band 6 self evaluation. Still though a bit shocked to get the letter as it's only October.

It's also a bit weird - they want you to register your payment method by November 27th, but if you want to pay by debit/credit card then the money goes out immediately which is a bit annoying. Alternatively you can give a bank account and they will take the money any time up to March 21 (you can set the date)



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