Dáil Éireann Debate, Wednesday - 23 January 2013
68. Deputy Olivia Mitchell asked the Minister for Finance if the local property tax will be paid by the National Assets Management Agency and by the banks where residential properties are in their ownership; and if he will make a statement on the matter. [3154/13]
View answerI have been informed by the Revenue Commissioners that the owner of a residential property is generally the liable person for the purposes of the charge to Local Property Tax. This is on the basis that he or she has the right to immediate possession of the property or is entitled to receive the rent if the property is rented rather than occupied by the owner. It is also on condition that no other significant long-term interest in the property has been created, such as a leasehold interest for at least 20 years, or a life tenancy. In such circumstances it is the lessee or the life tenant who is the liable person and not the owner. In most cases the role of the National Asset Management Agency (NAMA) is that of a secured lender; it is not the owner or operator of properties. Properties remain under the control of NAMA’s debtors and appointed receivers/administrators. Where these properties are subject to the Local Property Tax it will be the responsibility of the debtor or receiver to ensure compliance. However, there are occasions where NAMA takes residential properties directly onto its balance sheet.
Thus, where NAMA or a bank has such possession or right to receive rents in relation to a residential property they will be the liable person. Neither NAMA has nor the banks have any specific exemption from the Local Property Tax.
