Finian McGrath
Question:87. Deputy Finian McGrath asked the Minister for Finance the position regarding deferral of property tax payment in respect of a person (details supplied). [15798/13]
View answerThursday, 28 March 2013
Questions (87)
Written answers
I am informed by the Revenue Commissioners that in the circumstances outlined a person whose only income is a State pension qualifies for a full deferral of LPT. The deferred tax remains a charge on the property until the property is sold or transferred to another person. Interest will be charged on deferred amounts from the due date of payment until such time as it is paid. The daily rate of interest will be 0.011%, which equates to a rate of 4% per annum. The deferred amount, including interest, will be a charge on the property and will have to be paid to Revenue on the sale/transfer of the property. If the property is valued between €250,000 and €300,000 the liability for LPT for 2013 is €247 and if this amount was deferred for a full year would attract an interest charge of €10. The total charge as a result of deferral is dependent on the total LPT liability and the length of time of the deferral.
As an alternative to deferral the person may opt to have it deducted at source from the pension at just under €10 a week or the amount may be paid through any of the other payment methods by a family member.
If the family member who raised the matter has any further questions s/he may contact the LPT helpline at 1890 200 255 or write to LPT Branch, P.O. Box 1, Limerick.