All Homes to be re-valued for Property Tax in November 2021

Dempo1

Now Government really taking the P***, the latest nonsense is the possibility of taking into consideration, extensions, Sheds (FFS) and acreage, even driveways, Are they F******* serious.

No doubting all those forced to work from home and put in home offices, converted sheds will be thrilled with.

My own Shed is twice the size of my tiny cottage, it's required for something called fuel ( environmentalists don't start ) I also have an acre of garden.

https://m.independent.ie/business/personal-finance/property-mortgages/sheds-extensions-driveways-and-big-gardenswill-add-up-to-higherlocal-property-tax-bill-40500858.html

Roll on next election

awec

Dempo1 wrote: »

Now Government really taking the P***, the latest nonsense is the possibility of taking into consideration, extensions, Sheds (FFS) and acreage, even driveways, Are they F******* serious.

No doubting all those forced to work from home and put in home offices, converted sheds will be thrilled with.

My own Shed is twice the size of my tiny cottage, it's required for something called fuel ( environmentalists don't start ) I also have an acre of garden.

https://m.independent.ie/business/personal-finance/property-mortgages/sheds-extensions-driveways-and-big-gardenswill-add-up-to-higherlocal-property-tax-bill-40500858.html

Roll on next election

Your large shed and acre of garden affect the value of your property so it's not that surprising.

This stuff is to make sure rural dwellers pay their fair share, as a good chunk of their value is in their land rather than the house itself.

Dempo1

awec wrote: »

Your large shed and acre of garden affect the value of your property so it's not that surprising.

This stuff is to make sure rural dwellers pay their fair share, as a good chunk of their value is in their land rather than the house itself.

Neither my shed or garden size make an iota of difference to my home value. Rural properties are rarely sold or valued based on the size of a shed or garden size. If there was perhaps any chance of a development potential on the acreage fair enough but there's none.

To suggest rural dwellers have to pay their fair share is just wrong, as I've stated before, I get absolutely nothing, services, water, sewage/waste, refuse, Zilch from my local authority. I've paid the tax since the outset only because it was manageable albeit offensive.

Ace2007

Dempo1 wrote: »

Neither my shed or garden size make an iota of difference to my home value. Rural properties are rarely sold or valued based on the size of a shed or garden size. If there was perhaps any chance of a development potential on the acreage fair enough but there's none.

To suggest rural dwellers have to pay their fair share is just wrong, as I've stated before, I get absolutely nothing, services, water, sewage/waste, refuse, Zilch from my local authority. I've paid the tax since the outset only because it was manageable albeit offensive.

Rural areas maybe not, but a driveway to a house in Dublin could potential be worth 100k or more on the right street.

Likewise if you had room for a home gym/office pod out the back of house - that would increase your value.

But all that is likely to be included in the value of the house that you give them anyway.

Dempo1

Ace2007 wrote: »

Rural areas maybe not, but a driveway to a house in Dublin could potential be worth 100k or more on the right street.

Likewise if you had room for a home gym/office pod out the back of house - that would increase your value.

But all that is likely to be included in the value of the house that you give them anyway.

Yes fair points, we're does it potentially end, tax on the amount of cherry blossoms you have

Jerry Attrick

Dempo1 wrote: »

Neither my shed or garden size make an iota of difference to my home value. Rural properties are rarely sold or valued based on the size of a shed or garden size. If there was perhaps any chance of a development potential on the acreage fair enough but there's none.

To suggest rural dwellers have to pay their fair share is just wrong, as I've stated before, I get absolutely nothing, services, water, sewage/waste, refuse, Zilch from my local authority. I've paid the tax since the outset only because it was manageable albeit offensive.

Me too!

But I don't waste time whining about mickey mouse things like having to pay a minuscule bit of tax on my lovely home in the countryside. (Although I do occasionally complain out about the fact that it takes me almost 2 hours to mow my lawn, even though I have a ride-on.) Instead, I count my blessings as I sit in the sun listening to the birdsong, occasionally running inside when my neighbour decides to spread some slurry! The value of some things in life simply cannot be expressed in coarse monetary terms.

Dempo1

Jerry Attrick wrote: »

Me too!

But I don't waste time whining about mickey mouse things like having to pay a minuscule bit of tax on my lovely home in the countryside. (Although I do occasionally complain out about the fact that it takes me almost 2 hours to mow my lawn, even though I have a ride-on.) Instead, I count my blessings as I sit in the sun listening to the birdsong, occasionally running inside when my neighbour decides to spread some slurry! The value of some things in life simply cannot be expressed in coarse monetary terms.

That miniscule bit of tax you refer too may not be so miniscule in the near future and that's what I'm whining about as you so un elegantly put it, but I do agree living in the country side has many upsides, thankfully slurry spreading not an issue for me, I live in mountains

Jerry Attrick

Dempo1 wrote: »

That miniscule bit of tax you refer too may not be so miniscule in the near future and that's what I'm whining about as you so un elegantly put it, but I do agree living in the country side has many upsides, thankfully slurry spreading not an issue for me, I live in mountains

You must live in a Georgian Mansion! My LPT will actually be going down under the proposed arrangements!

So soon I'll have €90 a year extra to help pay for maintaining my well and water purification system! Yee-haw!

Dempo1

Jerry Attrick wrote: »

You must live in a Georgian Mansion! My LPT will actually be going down under the proposed arrangements!

So soon I'll have €90 a year extra to help pay for maintaining my well and water purification system! Yee-haw!

I wish, am on the €90 bracket and have been since day one, as I've said, this doesn't bother me, it's was coming that does, add ons etc, where does it end, but now time to do a spot of lawn trimming

gladerunner

You could argue that rural dwellers get very little services anyway. Even if you thought the LPT wasn't going into a big black hole.

I don't have any street lights, we live down a boreen which isn't maintained by the council and the roads are so so bad locally. We also paid a handsome reward to the planning office in order to build on.. we got nothing in return for that money.

Look at the end of the day, I don't mind paying it, its not a huge contribution.
But i do feel for people that are on fixed or low incomes.
My ability to pay is ok for now, but what about my elderly neighbours, all shuffling down to the Post Office. I think once your 65 and over, alot of the running costs should be explored for a downward trend.

Ace2007

gladerunner wrote: »

I think once your 65 and over, alot of the running costs should be explored for a downward trend.

I agree with a good bit of that, except 65 is still young. People have in the head that 65 is old as that's when we retire but people live longer healthier lives now.

Ireland also have an ageing population with a ticking time bomb of paying public pensions, so maybe having the cut off at 75 would be better.

Jerry Attrick

gladerunner wrote: »

You could argue that rural dwellers get very little services anyway. Even if you thought the LPT wasn't going into a big black hole.

I don't have any street lights, we live down a boreen which isn't maintained by the council and the roads are so so bad locally. We also paid a handsome reward to the planning office in order to build on.. we got nothing in return for that money.

The "handsome reward" to the council probably helps to maintain the country road at the end of your boreen.

I remeber being at a seminar some years ago where it was pointed out that because of historical settlement patterns, Irish county councils have to maintain many, many more public roads than most other countries in Europe - and this costs an absolute fortune.

Jerry Attrick

Ace2007 wrote: »

I agree with a good bit of that, except 65 is still young. People have in the head that 65 is old as that's when we retire but people live longer healthier lives now.

Ireland also have an ageing population with a ticking time bomb of paying public pensions, so maybe having the cut off at 75 would be better.

I can't wait to turn 70 when I'll be eligible for the household benefits package, the fuel allowance and the medical card - not to mention the lower rate of USC!

I was surprised when, on turning 65, I got an additional tax credit of €465 a year which more than pays my LPT! (And next year I will no longer have to pay PRSI!)

I can hardly wait to be allowed into the Fair Deal scheme!

Dempo1

Dempo1 wrote: »

Now Government really taking the P***, the latest nonsense is the possibility of taking into consideration, extensions, Sheds (FFS) and acreage, even driveways, Are they F******* serious

Yeah what's all this about? I heard a bit on newstalk this morning, but didn't hear the actual piece, just the "later we'll be talking about" link.

Anyone got a link to actual details?

Our houses will be like our cars soon. All bog-spec sh/te because we can't have a driveway without the government lubing us up. What in the name of fcuk does a shed add to the value of a house?



Getting taxed for having en extension? You hire a company, and put wages in their pockets for a few months, pay over the odds on supplies and keep the local economy bustling a little, and now you're being taxed for doing it?

I can really see people that saved up during covid rushing out to extend their homes. Window Tax comes to mind.

Wonder how much extra tax I pay if I take up the 20 year old carpet and put down a new laminate floor. I can see the TV licence inspector being replaced with a Home Decor inspector. "Oooh, that table and chairs must have cost a few bob. That'll be an extra tenner on the LPT. How big is that TV?". :rolleyes:

Dempo1

Jerry Attrick wrote: »

The "handsome reward" to the council probably helps to maintain the country road at the end of your boreen.

I remeber being at a seminar some years ago where it was pointed out that because of historical settlement patterns, Irish county councils have to maintain many, many more public roads than most other countries in Europe - and this costs an absolute fortune.

I've just a quick response (Motor tax) and you should visit the country side and have a look at the state of roads generally, Boreens are maintained fully by home owners.

Jerry Attrick

Deleted User wrote: »

What in the name of fcuk does a shed add to the value of a house?

One man's "garden shed" is another man's shomera.

Deleted User wrote: »

Getting taxed for having en extension? You hire a company, and put wages in their pockets for a few months, pay over the odds on supplies and keep the local economy bustling a little, and now you're being taxed for doing it?

My son and his missus built an extension (2 storey) a few years ago; it gave them an extra en-suite bedroom above a large garage, and increased the value of their gaff by about 25%. (And they were able to avail of the HRI tax credit scheme for building it!)

Firstly, it would be utterly insane for them not to be liable to pay LPT on that enhancement of their property.

Second, although the estimated value of their house has increased by some 25%, under the proposed new arrangements they will be paying less LPT than they currently pay!

Like me, they welcome the new arrangements with open arms!

Dempo1

Jerry Attrick wrote: »

One man's "garden shed" is another man's shomera.





My son and his missus built an extension a few years ago; it gave them an extra en-suite bedroom above a large garage, and increased the value of their gaff by about 25%. (And they were able to avail of the HRI tax credit scheme for building it!)

Firstly, it would be utterly insane for them not to be liable to pay LPT on that enhancement of their property.

Second, although the estimated value of their house has increased by some 25%, under the proposed new arrangements they will be paying less LPT than they currently pay!

Like me, they welcome the new arrangements with open arms!

One assumes the extension not done in a rural location? I get your of the opinion is a Home is an asset, not everyone see"s it that way. There's also the strong argument LPT does not take into account, ability to pay, there are waivers but in reality they are not, the yearly liability remains and accrues. In an idyllic world, wouldn't it marvelous to flip your home every few years and reap the profits, that of course is not the reality for the vast majority.

Jerry Attrick

Jerry Attrick wrote: »

My son and his missus built an extension a few years ago; it gave them an extra en-suite bedroom above a large garage, and increased the value of their gaff by about 25%. (And they were able to avail of the HRI tax credit scheme for building it!)

Firstly, it would be utterly insane for them not to be liable to pay LPT on that enhancement of their property.

Second, although the estimated value of their house has increased by some 25%, under the proposed new arrangements they will be paying less LPT than they currently pay!

Like me, they welcome the new arrangements with open arms!

Where do they live than an extension added 25% to their house value? Any houses I see with extensions (usually singly storey extension of the kitchen, sometimes with an extra bathroom thrown in) and the house is selling around the same price as everything else around it.


I extended my house with a kitchen extension, utility room, and bathroom. I also have a large concrete shed that's big enough for a car and an office space.


My house is still not gonna be selling for that much more than my neighbour's though. If I get an extra 10% I'd be doing very well.


Nonetheless, that's just part of a property valuation. The way I heard it this morning, is that you were getting nailed to the wall for having these as extras.

L1011

Its on value, not value and surcharges for 'extras'. Extensions, decent additional building (sheds etc) add to the value, in some way.

javaboy

Deleted User wrote: »

The way I heard it this morning, is that you were getting nailed to the wall for having these as extras.

I think that's probably a bit of sensationalising/clickbait.

Worth noting that this page wasn't updated since November 2020 so this is not "new" news.

https://www.revenue.ie/en/property/local-property-tax/valuing-your-property/factors-affecting-your-valuation.aspx

What happens if your property includes land?
Local Property Tax (LPT) is payable on the house and other lands associated with the property up to one acre.

This also includes amenities enjoyed with the property as follows:

a yard, gardens or shed
a driveway
a garage.

Vestiapx

Jeremy Sproket wrote: »

There are just over 2 million homes in Ireland. Let's conservatively estimate that half are privately (i.e., not council owned). So, 1 million

The average 3-bed semi D (let's assume this is the median home here) is €235,028. This will attract a LPT of €405 per anum.

So that's €405,000,000 being taken in. Where's the money going?


https://www.realestatealliance.ie/rea-average-house-price-per-county-p7025

https://www.citizensinformation.ie/en/money_and_tax/tax/housing_taxes_and_reliefs/local_property_tax.html

https://www.cso.ie/en/releasesandpublications/ep/p-cp1hii/cp1hii/hs/#:~:text=Ireland%27s%20housing%20stock%20in%202016,occupied%20by%20guests%20or%20visitors.

€235k value is only €225 euros tax

blackbox

Has anyone looked at the new revenue valuations guidelines. https://lpt.revenue.ie/lpt-web/valuation-guide/index.htm

They have the country mapped into "small areas" and they give a range of prices for these areas. In my case the range seems very narrow (and very high).

If they are using the property price register, it may be skewed by sales of expensive houses in the area.

It looks like a boom opportunity for professional valuers.

iColdFusion

https://www.boards.ie/discussion/comment/117346224#Comment_117346224

Ahh here this is the Irish government we're talking about, they offer the carrot now to get people to realistically update the value of their home and will then increase the rates at every budget for as long as they can get away with it, they know people wont give out too much about an extra €50 every year and are counting on people not remembering what they were paying 5 years before that.

Its a bit much to be penalising people for upgrading their homes by saying its now worth more, its not as if an extension, garden shed or insulation upgrade comes cheap!

OU812

So what happens if you’ve done work to your home but have no plan to sell?

for example, we’ve added three large extensions to our home since it was last valued, which if both mine and the neighbours were to go up for sale at the same time would make mine more desirable and probably worth €50k+ more (taking us into the next band)

Claw Hammer

https://www.boards.ie/discussion/comment/117933070#Comment_117933070

Your new valuation should take into account the current market value of your home. If you have brought about an increase in market value by way of improvements you will have to submit the new higher value ( or become a tax cheat).

catrionanic

https://www.boards.ie/discussion/comment/117932444#Comment_117932444

Sorry if this is a stupid question, but will houses be valued individually? Just looked at my area and we have been grouped in the 700-780k range which is at least 200k too high. There are also some small 2 bed terraced houses in my estate which have also been grouped in this range but are only worth half of that.

3DataModem

https://www.boards.ie/discussion/comment/117937530#Comment_117937530

Not a stupid question at all. You self-assess your home's value via the online portal. I advise printing off ads, valuations, or any other info you have to support your valuation, in case you get audited some day.

Cuddlesworth

Seems reasonable, no idea about rural homes and the way they could be valued, but in my Urban estate there are people beside me paying band 3 LPT and they should be in band 7 at least. Probably more considering how nuts the market is.

random_banter

The last few posts have been enlightening!

We're in the process of buying our first home. We don't have a closing date yet - but I see that the LPT self valuations need to be in by the 7 November. The house is an executor sale and I see that the liability to pay is on the owner of the house on 1 November, and they also need to submit the valuation. The house is unoccupied currently. My concern is that the area is priced at a high band on the revenue's guide, and we are purchasing the house for a significantly lower amount than the band the area guide points to.

I'm guessing that this is a question perhaps for the solicitor? We just want to make sure that the valuation is done correctly so we aren't being charged too much - as I see the've also said that if you don't submit a valuation, they will do it according to the area band tool and it will apply for the four years.

DubLad69

What is the situation with new builds? If a house was purchased sometime next year, and was built after November, would they be exempt from property tax until the next review is done?