Dáil Éireann Debate, Tuesday - 28 May 2013
212. Deputy Seán Kenny asked the Minister for Finance if the National Association of Building Co-operatives is liable for half the local property tax of a person (details supplied) in Dublin 17 who purchased an apartment from NABCO on a 50% shared ownership basis. [25935/13]
Amharc ar fhreagraThe 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 is 1 May 2013 for the year 2013, and, for subsequent years, 1 November in the preceding year. I am advised by the Revenue Commissioners that where a residential property is purchased under the equity share programme operated by the National Association of Building Cooperatives (NABCo) the liable person will be the purchaser. This is on the basis that under this scheme, the purchaser acquires a leasehold interest in the property for a period that exceeds 20 years. Such a purchaser is in the same position as a property owner who purchases a residential property with a mortgage from a financial institution. Accordingly, the purchaser will be liable for payment of the LPT on the property.
