News & Events

Local Property Tax

Most homeowners will have received a letter from Revenue prompting them to determine the market value of their properties. After submitting the valuation, the online LPT system will confirm the new band for the Local Property Tax in which the property falls.

The letter issued by Revenue will set out their estimated LPT liability which will either be affirmed or replaced once the property owner submits a self-assessed valuation of their property (or properties).

The deadline for submitting a new valuation is 7th November 2021.

 

If a homeowner misses this deadline, they must still submit a valuation return after this date.

If a person does not submit a return by November 7th, Revenue will proceed on the basis of an estimated amount and will continue to seek submission of a self-assessed valuation. The property owner is obliged to submit this valuation.

Revenue will look for a self-assessed valuation of the property as of the 1st November 2021. Although most homeowners will likely not see a change in their charge, it is important that they file an LPT valuation as this will determine the amount of LPT they pay for 2022 and for the 3 years from 2023 to 2025.

 

This process will not require individuals to seek their own professional valuer, but this is an option that may be appropriate if there is uncertainty in which price bands the property falls into.

Most people will likely be guided by the options set out on Revenue’s property valuation guide at Revenue.ie. Users are asked to enter their Eircode to find their home on an interactive map, which will then offer a price band for that address.

Revenue will also accept valuations arrived at using information sources such as newspapers, local estate agents, or property sales websites. Owners should use information about properties in the local area that are similar in size and approximate age to their own. Any documentation used for the valuation should be kept in case Revenue requests it later.

 

Property owners will need their property ID, PIN (displayed in any LPT letters issued by Revenue) and the owners PPS Number to access their LPT records on Revenue’s website.

Payments can be made in one annual lump sum or in instalments. Individuals have a number of payment options to choose from including direct debit, credit card or at source through payroll.

If you have already been paying LPT in instalments, you can automatically carry forward this method to 2022.

 

If you have any queries, please do not hesitate to contact our Tax Department.

WRITTEN BY:

WRITTEN BY: