Dáil Éireann Debate, Wednesday - 29 June 2016
74. Deputy John Curran asked the Minister for Finance if he will grant persons living in a complex (details supplied) an exemption from the local property tax; and if he will make a statement on the matter. [18658/16]
View answerThe Finance (Local Property Tax) Act 2012 (as amended) provides that any property that is in use as, or that is suitable for use as, a dwelling house is liable to LPT. Therefore, the condition of a property does not result in exemption from LPT where it is occupied. The only exception in this regard is where a property is certified as having significant pyritic damage.
Where a property is occupied and liable to LPT, it is up to the property owner to assess its market value on the relevant 'valuation date' (1 May 2013). When doing so, the property owner should take account of any structural deficiencies that existed on that date. The declared valuation then remains in place for the 'valuation period' (1 May 2013 to 31 October 2019) and is not affected by any subsequent repairs or improvements made to the property or by any general increase or decrease in property prices that might occur over the period.
Because it is suitable for use as a dwelling house, Revenue has confirmed that the property in question is not entitled to an exemption from LPT and no further reduction is possible as the property owner has valued the property in the minimum band (Band 1). Revenue has already confirmed the situation to the property owner on a number of occasions and has also clarified that it is obliged to administer LPT in accordance with the law as currently set down.
