The Finance (Local Property Tax) Act 2012 (as amended) provides that a liability for Local Property Tax (LPT) will arise where a person owns a residential property on the liability date, which will be 1 May 2013 for the year 2013. The legislation defines a residential property as any building or structure which is in use as, or is suitable for use as, a dwelling. I am further advised by the Commissioners that there is no specific exemption from LPT for listed buildings. Owners of these residential properties are liable to pay the tax on their properties in the same way as any other residential property owner. As LPT is a self-assessed tax, it will be a matter for the property owner to calculate the tax due based on her or his assessment of the market value of the property in question.