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

Bannasidhe

https://www.boards.ie/discussion/comment/117973140#Comment_117973140

I just popped on to the site having gotten a message from my brother laughing about them bumping up a property he owns - and is selling - to the next band.

I check mine and they had bumped it up by 2 bands. Cork City Council are having a laugh if they think properties in my area are worth what they claim.

Anyway, I checked the property price register and all the houses sold recently in my immediate area are in line with my original valuation, and thanks to the re-jigging of the bands my property tax is around €150 less than last year. So I paid it straight away.

It's actually a lovely feeling knowing I won't be trying to find a few hundred quid in the New Year to pay the LPT.

awec

Using very slightly different shades of orange on the map tool is completely stupid. I am having a hard time figuring specifically which band I'm in.

wench

https://www.boards.ie/discussion/comment/117973932#Comment_117973932

Just click on the area, and the exact band will pop up

awec

https://www.boards.ie/discussion/comment/117973945#Comment_117973945

Ha. I totally missed that.

They have me 1 band higher than I'd have put myself.

Claw Hammer

https://www.boards.ie/discussion/comment/117968661#Comment_117968661

Accepting the proposed valuation gives you no protection if it is below market value and you are asked to justify it!

Call me Al

https://www.boards.ie/discussion/comment/117974145#Comment_117974145

Revenue have said publicly they aren't going to contest lower self-assessed valuations.

https://www.irishtimes.com/news/ireland/irish-news/local-property-tax-revenue-will-not-contest-lower-self-assessed-values-1.4689022

kheb

“The Revenue Commissioners has said it will not challenge people valuing properties lower than its own guidance in an online valuation tool to be used for calculating local property tax.”

If the market value of your property is lower than the valuation, then rightly the homeowner will use the lower market value.

awec

I would say they won't challenge just because you're lower than their suggestion, but they will surely do some basic analysis and look for anomalies and challenge those.

Like if you live in a development of identical houses where you are the only house in a lower bracket.

Annasopra

https://www.boards.ie/discussion/comment/117973140#Comment_117973140

That doesnt prove me wrong though

Revenue puts you in a suggested band.

Its possible to just go in and value your property in the same band without any research. Or you can ignore the deadlines and then let revenue start deducting from your salary based on their suggested band. Both of those actions are an effective "acceptance" of the revenues suggested band it placed you in.

We are 3 times what we were last year. Most unaffected though apparently...

dublin49

I know of a house purchased in June 2021 for 495k that is in the 600k+ Band on the revenue's map.The house needs upgrading but still the 440 - 525 band would be the correct one.

JimmyVik

My dad said last night he hoped revenue would ask to buy his house for what they think its worth.

They've overvalued it by a couple of hundred thousand.

Living Off The Splash

Dun Laoghaire Rathdown assessment of my property puts me on band 17. Why I put in my Eircode on the revenue website I am on band 12. The revenue website also says that they take 5 property sales in the area to base their calculations. This is a problem for me as there has only been one sale in 20 years. The fact that someone paid over the odds for this house should not mean that everyone has to base their valuations on this one sale...

"The average valuation bands for each area have been calculated based on:

• property valuations as at 1 May 2013 that were submitted to Revenue for the first valuation period
• information produced by the CSO on property price trends between 2013 and 2020
• and
• information on property sales between 2018 and 2020 from Revenue’s Stamp Duty records.

Information on property sales is only applied in the calculation for a Small Area if there were more than five properties sold in that Small Area between 2018 and 2020."

SuperBowserWorld

I f****** hate this f****** property tax s*** !

Maybe I should run my affairs through that empty office in Fitzwilliam square where the government facilitates tax avoidance by money laundering criminals and millionaire s/billionaires.

It's a not very funny joke.

kheb

https://www.boards.ie/discussion/comment/117977283#Comment_117977283

Please read Revenue's guidance. "As Local Property Tax (LPT) is a self-assessed tax, you are responsible for assessing whether the average valuation band for your area does or does not apply to your own property. If the average valuation band on the valuation tool map does not reflect your property’s value, you should refer to the other information sources described on the next page." https://www.revenue.ie/en/property/local-property-tax/valuing-your-property/interactive-valuation-tool.aspx

Bannasidhe

https://www.boards.ie/discussion/comment/117978132#Comment_117978132

I'm so not buying that.

My property increased by 2 bands. But checking the 2013 valuations, and the PPR, it's 'worth' maybe 20k more now. I can't find one house that was sold within a 15 minute walk from mine that made what revenue says is the valuation band for the area. My area became part of Cork City when the boundaries moved so that might explain Cork City Council getting silly with their estimates.

I suspect every property got bumped up based on general increase in property prices and they hope a lot of people will just go with revenue's suggestion.

Claw Hammer

https://www.boards.ie/discussion/comment/117977283#Comment_117977283

Doing as you suggest could put you in breach of your obligations if the revenue suggested band is lower than the band it should be in.

Not paying Lpt in full can have very nasty consequences. A default acceptance is not an acceptance at all and is a breach of your obligations to know the value of the property.

JimmyVik

https://www.boards.ie/discussion/comment/117979178#Comment_117979178

You always post sh!te like this :)

Stuff like "oohh revenue will skin you alive and eat your first born if you dont do this".

Dont be so dramatic.

Revenue have given guidleines. They are out by miles.

Just value your house at a fair idea of what you think its worth (see what the closest similar house in the same condition recently sold for). If yours is worse condition value it less, if its better value it the same. Revenue will be happy with that as long as you dont take the p!ss altogether.

Claw Hammer

https://www.boards.ie/discussion/comment/117982323#Comment_117982323

You clearly have no idea of the consequences of underpaying LPT.

Dempo1

Took a closer look at the bands for my immediate area and was quite surprised. The band states €201k to €262k ( I think), whilst not doubting there are some substantial properties near me (quite rural) there's not been a house sold within 6 km of me in nearly 10 years and my town land clearly showing on the map.

Being generous, my own humble abode (cottage) is valued at €160k , I'm certainly no way near €201k valuation. I'll be sticking to my valuation whenever I get the nod to self assess.

https://www.boards.ie/discussion/comment/117983262#Comment_117983262

And that is exactly what you are supposed to do.

Dempo1

https://www.boards.ie/discussion/comment/117983304#Comment_117983304

Yes indeed , am just curious we're they are getting their valuations from re my own band , there's a lot of properties near me with a similar valuation as mine of €150 to €170k , quite a gap to reach revenues €201k

JimmyVik

https://www.boards.ie/discussion/comment/117983215#Comment_117983215

Point us to some real cases please, so I can read all about it these devastating consequences :)

Until then its just you over egging the consequences and talking about the big bad boogy man as usual.

Dempo1

https://www.boards.ie/discussion/comment/117982323#Comment_117982323

Seems reasonable to me and I have to agree Revenue are way out in my own area. I will stick my valuation , there is bound to be a small cohort who'll chance their arm and who knows what the consequences will be but in the short term Revenue have said they won't be disputing self assessed valuations ( For Now)

Annasopra

https://www.boards.ie/discussion/comment/117983215#Comment_117983215

https://www.boards.ie/discussion/comment/117979178#Comment_117979178

What are the consequences? Show us real examples rather than tut tutting.

Another farce. I’m one of the world’s biggest eejits out there. As soon as I got Revenue notice in ROS I acted and accepted their valuation and set the recommended debit. Then in media I’m hearing I should be undervaluing my property. Elsewhere I have been told I’m a fool to be paying my TV license.

Furze99

https://www.boards.ie/discussion/comment/117978626#Comment_117978626

That's about it, but note that it's the local authorities where the default valuations are coming from. It's not Revenue chancing their arm and hoping that people will accept defaults. Revenue just collect the tax on behalf of the county councils etc. Personally I've no great issue with LPT if I perceive that a) it's fairly loaded and b) we see benefit for it locally.

Looking at our area, I have my doubts on both counts in case of a) it's obvious they are underassessing properties in towns and villages, probably to minimise electoral kickback and b) I see little evidence of local authority spending outside same towns & villages. I suppose they might put down a bit of tar every dozen years or so.

dublin49

looking at the suggested bands for my area they are definitely overvalued by one band at least,probably on the basis most will risk the band below the suggested one.

SouthWesterly

Where does the letter appear in the revenue website

relax carry on

https://www.boards.ie/discussion/comment/117986244#Comment_117986244

From Revenue.ie; Revenue will issue you with a letter (through MyAccount, Revenue Online Service (ROS) or the post) in advance of the valuation date of 1 November 2021. Your Property ID and PIN will be included and these are also shown on any previous LPT correspondence you may have received from Revenue.

Normally if something comes into your Revenue MyAccount or your ROS inbox, you'll get an email notification to let you know to looking in tour documents section where there should be a PDF of the letter.