Shared ownership tenants liable for Local Property Tax?

comet923

Hi all,
I have a house under the shared ownership scheme with local authority. Am trying to make certain whether I am liable for the Local Property Tax, as revenue.ie website doesn't make it clear if I am or not. My thinking is that I am liable as am paying a mortgage on half the property and rent on the other half.

Would be grateful for any advice...

Howjoe1

comet923 wrote: »

Hi all,
I have a house under the shared ownership scheme with local authority. Am trying to make certain whether I am liable for the Local Property Tax, as revenue.ie website doesn't make it clear if I am or not. My thinking is that I am liable as am paying a mortgage on half the property and rent on the other half.

Would be greatful for any advice...

Shared Ownership and the Property Tax

In the case of Local Authority shared ownership schemes,

The Minister for Finance (Deputy Michael Noonan): announced in the Dail on 5th March 2013 that he had been advised by the Revenue Commissioners that residential properties purchased under the various local authority shared ownership schemes will be subject to LPT, and in these cases, the individual(s) who purchased the residential property from the local authority will be liable to pay the tax.

He expanded on this reply by saying “ This is on the basis that under these schemes, the purchaser acquires a leasehold interest in the property for a period that exceeds 20 years. Such a purchaser is in the same position as a property owner who purchases a residential property with a mortgage from a financial institution. Accordingly, there is no reason why such an individual should not be liable for payment of the LPT on the property. ”

comet923

That's what I was thinking . Now I know where I stand.

Thanks for your prompt reply, Howjoe 1...