LOCAL PROPERTY TAX
FROM 2016 TO 2019
LOCAL AUTHORITY REDUCTIONS 2016
In his recent Budget 2016 speech, the Minister for Finance said that he would present a proposal to Government to change the Local Property Tax revaluation date from 2016 to 2019.
Obviously, although the budget was designed
with the 2016 elections at least partially in mind, this delay in Local Property Tax revaluation
also means that home owners, especially in
the Dublin and Greater Dublin areas, will not now have to pay a larger amount in their LPT costs,
due to the increase in the value of their properties
since the LPT was introduced.
In 2013, when the Local Property Tax originally commenced, it involved 1.3 million homeowners having to file LPT returns for an estimated 1.9 million houses and apartments across Ireland. Below we include a table of those Local Authorities which have taken advantage of the leeway of reducing the LPT by up to 15 %, and although no local authorirty has increased the LPT rate, 11 of them have reduced their rates.
One estimate puts the number of properties valued in excess of € 1,000,000 at over 3,600 houses. By contrast, 570,000 properties are in the lowest band, valued at up to € 100,000.
1.1 million properties are valued at between € 100,000 and € 300,000 and almost 160,000 houses are valued at greater than € 300,000.
REVENUE INVESTIGATION OF 250,000 POSSIBLY UNDERVALUED HOMES
2016 Local Property Tax Rates
2016 LOCAL PROPERTY TAX CHARGES & REDUCTIONS
|Valuation Band||Normal Rate||1.5 % Reduction||3 % Reduction||7.5 % Reduction||10 % Reduction||15 % Reduction|
|0 to 100,000||90||88||87||83||81||76|
|100,001 to 150,000||225||221||218||208||202||191|
|150,001 to 200,000||315||310||305||291||283||267|
|200,001 to 250,000||405||398||392||374||364||344|
|250,001 to 300,000||495||487||480||457||445||420|
|300,001 to 350,000||585||576||567||541||526||497|
|350,001 to 400,000||675||664||654||624||607||573|
|400,001 to 450,000||765||753||742||707||668||650|
|450,001 to 500,000||855||842||829||790||769||726|
|500,001 to 550,000||945||930||916||874||850||803|
|550,001 to 600,000||1,035||1,019||1,003||957||931||879|
|600,001 to 650,000||1,125||1,108||1,091||1,040||1,012||956|
|650,001 to 700,000||1,215||1,196||1,178||1,123||1,093||1,032|
|700,001 to 750,000||1,305||1,285||1,265||1,207||1,174||1,109|
|750,001 to 800,000||1,395||1,374||1,353||1,290||1,255||1,185|
|800,001 to 850,000||1,485||1,462||1,440||1,373||1,336||1,262|
|850,001 to 900,000||1,575||1,551||1,527||1,456||1,417||1,338|
|900,001 to 950,000||1,665||1,640||1,615||1,540||1,498||1,415|
|950,001 to 1,000,000||1,755||1,728||1,702||1,623||1,579||1,491|
2016 LOCAL PROPERTY TAX | PAYMENT OPTIONS | REVENUE REQUIREMENTS
Revenue have stated that they will make the changes automatically. The Revenue Helpline number for more information is: 1890 200 255
This summary is based on recent articles in the Irish Times and Independent newspapers and by contacting the Local Authorities involved. The information provided on this page is liable to change at any time. All information supplied by IrishHouse.ie/PropertyRegister.ie is subject to errors & omissions and does not constitute legal, investment or any other form of advice. Always obtain independent professional advice for your own particular situation.