Finian McGrath
Question:202. Deputy Finian McGrath asked the Minister for Finance his views on correspondence (details supplied) regarding local property tax. [16586/13]
View answerTuesday, 16 April 2013
Questions (202, 366)
Finian McGrath
Question:366. Deputy Finian McGrath asked the Minister for Finance if he will respond to the issue raised by the resident association concerning the property tax for the Marino area of Dublin (details supplied). [17707/13]
View answerWritten answers
I propose to take Questions Nos. 202 and 366 together.
The Finance (Local Property Tax) Act 2012 (as amended) sets out how the tax is to be administered, how a residential property is to be valued for Local Property Tax (LPT) purposes and provides for the making of a Revenue Estimate. I am informed by the Revenue Commissioners that as LPT is a self-assessed tax, in the first instance it is a matter for the property owner to calculate the tax due based on his or her assessment of the chargeable value of the property. I would like to clarify that the Revenue Commissioners will not be involved, as a matter of routine, in valuing individual properties. As part of the general issue of Returns that commenced on 11 March 2013 and which is now almost complete, property owners received an information booklet and a Revenue Estimate of LPT. The Revenue Estimate is not based on a valuation of each owner’s individual property nor should it be regarded as an accurate calculation of the amount of LPT they should pay. Once the property owner meets his or her obligations by determining the valuation band for their property, submitting the Return and advising Revenue of his or her payment method within the relevant time limits, the Revenue Estimate of LPT notified to the owner is no longer relevant. However, if the property owner considers that the amount shown on the Notice of Estimate accurately reflects his or her self-assessment, he or she should complete the Return on that basis, select a payment option and submit the Return.
I am further advised by the Revenue Commissioners that the valuation guidance developed by the Commissioners and which is now available on their website, is designed to help property owners in self-assessing the market value of their property by giving them average, indicative values for their area. This guidance should not be used in isolation but together with other sources of information and the property owner’s knowledge of their neighbourhood and their own property. Other useful sources include the publicly available property price register produced by the Property Services Regulatory Authority, the property section of local newspapers, information from local estate agents and property websites. As I have previously advised the House, where the Revenue guidance is used in an honest manner, the property valuation made by a property owner will not be challenged by Revenue in accordance with its normal Customer Service Charter. Finally, I have been advised by the Revenue Commissioners that as the issues raised are specific to the members of the particular Residents Association, Revenue will correspond directly with the Association to address these issues. The Commissioners also advise that they will send you a copy of any reply that they issue to the Association.