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26/10/2021

Kildare property owners urged to value their homes for local property tax (LPT)

Carlow Carlow Carlow

FILE PHOTO

Kildare homeowners are receiving letters from the Revenue Commissioners requesting an updated valuation of their properties in order to set a new Local Property Tax rate until 2025.
A residential property price register is available on Revenue.ie for people to assess the value of their property.
Users must enter their Eircode to find their property on the map and will then be given the price band for their address.
A professional valuation is not required, however, it may be needed if an individual's property is in an area between price bands.
They will also accept valuations from information sources such as newspapers, local estate agents and property sales websites, where Revenue advises people to base their rate off properties of similar size and age to their own.
More information on how to find the value of your property can be found at revenue.ie.
For the purposes of the valuation, Revenue says that a residential property will include certain lands or buildings that have a domestic or residential purpose.
These include a yard, garden or patio. a driveway or parking space, a garage, shed or greenhouse and a garden room or home office.
Where the land associated with your property is greater than one acre in size, land up to one acre (0.4047 hectares) only should be valued with the property.
For farmers, adjoining farmland or sheds for animals do not have to be valued with a residential property.
Existing tax bands are based on valuations from 2013, however, property prices have jumped significantly in the past eight years.
The Department of Finance says that around 36% of homeowners will see their LPT increase, while around 11% will see a decrease.
More than half of homeowners (53%) will see no change to their bills.
Once homeowners receive their LPT letter, which will include their property ID and PIN, they will be able to make their payment in one lump sum annually or in several instalments.
Katie Clair, Principal Officer in Revenue’s Local Property Tax Branch, has encouraged property owners to start the self-assessment of their property’s value by using the interactive valuation tool.
She said: “Once property owners have assessed the market value of their property, they should submit the LPT Return and confirm a payment arrangement for 2022 by 7 November 2021.
“The easiest and quickest way to do this is online via www.revenue.ie.”
Payment options include direct debit, credit card, cheque or you can pay in cash at your local post office.

Further information can be found at Revenue.ie

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