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Dáil Éireann Debate, Tuesday - 13 July 2021

Tuesday, 13 July 2021

Questions (269, 270, 285)

Paul McAuliffe

Question:

269. Deputy Paul McAuliffe asked the Minister for Finance when the Revenue Commissioners will have the valuation process finalised in relation to local property tax reforms; and if he will make a statement on the matter. [37529/21]

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Paul McAuliffe

Question:

270. Deputy Paul McAuliffe asked the Minister for Finance when the Revenue Commissioners will be able to quantify the monetary value of new builds by local authority in relation to local property tax reforms; and if he will make a statement on the matter. [37530/21]

View answer

Catherine Murphy

Question:

285. Deputy Catherine Murphy asked the Minister for Finance the date and the way in which changes to the local property tax system will be introduced. [38014/21]

View answer

Written answers

I propose to take Questions Nos. 269, 270 and 285 together.

I would advise the Deputies that the revaluation of residential properties, for Local Property Tax (LPT) purposes, on 1 November 2021, and the bringing of newly completed properties within the charge to LPT, will depend on the Finance (Local Property Tax)(Amendment) Bill 2021 being enacted before the Dáil and Seanad adjourns for the summer recess.

I am advised by Revenue that the revaluation process will involve liable persons being required to self-assess the value of their residential properties as at 1 November 2021 and submit this value to Revenue by 7 November 2021, in the case of a paper return, and by 19 November 2021, in the case of an online return.

This self-assessment of values on 1 November 2021 will apply to properties that have been chargeable to LPT since 2013 and to properties that have been completed since 2013 but have remained outside the LPT charge in the intervening period.  In addition, for the valuation period starting with the year 2022, newly completed properties will be brought within the charge to LPT on an ongoing basis from 1 November following their completion.

In good time prior to the valuation date on 1 November 2021, Revenue will issue LPT return forms to liable persons to be used for the submission of their self-assessed property values. With the return form, Revenue will also issue a document called a ‘Notice of Estimate’ containing an amount of LPT. This is not an assessment of the valuation of that person’s property. Instead, it is an amount of local property tax that will become payable should a liable person not submit a self-assessed value to Revenue. While the amount may coincide with the value a liable person would self-assess, the person is still required to submit a return to Revenue containing his or her self-assessment. It is important to note that Revenue does not value individual properties for the purposes of selecting the amount of LPT to be used in the ‘Notice of Estimate’.

Revenue will accept, on a non-judgemental basis, liable persons’ self-assessed valuations, subject to the usual compliance checks that may subsequently be carried out in relation to all self-assessed taxes. Revenue is preparing extensive guidance that will be made available to property owners in advance of the issuing of returns to assist them in self-assessing the value of their property.

Regarding new build properties, Revenue will not be in a position to analyse the data and report quantitatively on these until after LPT returns are submitted and processed.

As is currently the case, Revenue will provide a wide range of payment options to liable persons which will allow them to choose the payment option that best suits their particular circumstances.  Payment of LPT liabilities for 2022 can be made in one single payment or can be phased evenly over the year from January 2022.  Details of the payment options available to liable persons will be provided with the issuing of LPT return forms.  

 

Question No. 270 answered with Question No. 269.
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