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LPT question

  • 19-10-2019 6:27pm
    #1
    pummice
    Registered Users, Registered Users 2 Posts: 259 ✭✭


    So house prices have gone up a lot in recent years, does your house value now fall into the next LPT band up, did you voluntarily go up a band, in fact how do you do that?


Comments

  • #2
    Calahonda52
    Registered Users, Registered Users 2 Posts: 12,888 ✭✭✭✭Calahonda52


    The Revenue have not as yet done any repricing due to political pressure which is where the real pain will be.
    You LA will adjust the annual % applicable so you do nothing now

    “I can’t pay my staff or mortgage with instagram likes”.



  • #3
    Daxve
    Registered Users, Registered Users 2 Posts: 164 ✭✭Daxve


    The valuation date for LPT remains the 1st of May 2013, whatever value your property was on that date that's what you currently pay LPT on even if you bought your property since that date for a higher value you use the valuation from the 1st of May 2013 which will generally carry forward from what the previous owner valued it at (unless it was very undervalued but that would be resolved as part of the sales process).

    https://www.revenue.ie/en/property/local-property-tax/is-your-property-liable-lpt/what-are-the-key-dates-for-lpt.aspx

    LPT values were supposed to be redone this year on the 1st of November but that's been delayed until 2020 at least while they figure out how to do the revaluations based on current higher prices without hitting people with large rises in their LPT charge. When the revaluation does occur the owner on the 1st of November that year will be responsible for declaring the value on that date and what LPT band they are then liable to for the following year.

    https://www.gov.ie/en/news/6fff2e-minister-donohoe-announces-deferral-of-revaluation-date-for-local-pr/


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