LATEST PROPERTY NEWS 15-May-2024
The Property Price Register
15th May 2024
Property tax rates and exemptions in Ireland are set nationally and apply uniformly across the country.
However, local authorities have the discretion to adjust the rates by up to 15% above or below the national rate.
It's important to note that changes in tax policies may occur, so it's recommended to check the latest information from official sources or consult with a tax professional for the most up-to-date details.
The Local Property Tax (LPT) is the property tax in Ireland. The LPT is based on the market value of residential properties and is administered by the Revenue Commissioners.
Here are some key points:
National LPT Rates (2024):
Standard Rate: 0.1029% of the mid-point of the property value band.
Higher Rate: Local authorities have the option to increase the standard rate by up to 15%.
Property Valuation Bands (2024):
Valuation Band Mid-Point LPT Rate (Standard) Up to 100,000 50,000 0.0501% 100,001 - 150,000 125,000 0.1029%
150,001 - 200,000 175,000 0.1029%
200,001 - 250,000 225,000 0.1029%
250,001 - 300,000 275,000 0.1029%
300,001 - 350,000 325,000 0.1029%
350,001 - 400,000 375,000 0.1029%
Over 400,000 - 0.1029%
Exemptions and Deferrals:
Principal Private Residence (PPR): Owner-occupied properties are subject to the LPT. However, there is a deferral option for those whose income falls below a certain threshold.
Certain New Builds New properties that are unsold and vacant are exempt for up to 12 months.
Specific Exemptions: Certain properties, such as social housing, nursing homes, and properties owned by certain charities, may be exempt from LPT.
It's crucial to check with the Revenue Commissioners or other official sources for the most current and accurate information, including any changes to rates, exemptions, or deferral options.
Local authorities may also have information on any specific adjustments to rates within their jurisdictions.
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