Part 12 of the Finance (Local Property Tax) Act 2012 (as amended) provides for a deferral or partial deferral (50%) of LPT in certain circumstances. These circumstances include ‘Income Level’, ‘Hardship’, ‘Personal Insolvency’ and ‘Personal Representative of a Deceased Person’.
Once granted, a deferral normally remains in place for the duration of the ‘valuation period’, which is currently 1 May 2013 to 31 October 2019. However, property owners can opt to pay the outstanding liability at any time and discontinue with the deferral.
Where a deferral is in place, the outstanding liability remains as a charge on the property and must be paid before a sale or transfer can be completed. Interest is charged on the deferred amount at a rate of 4% per annum.
I am advised by Revenue that the number of deferrals currently in place in counties Cavan and Monaghan is as set out in the following table.
Local Authority
|
Income Levels/ Hardship
|
Personal Insolvency
|
Rep. Deceased Person
|
Total
|
Cavan
|
1,130
|
19
|
14
|
1,163
|
Monaghan
|
860
|
12
|
14
|
886
|
Revenue has recently published detailed LPT statistics in respect of 2017, which may be of interest to the Deputy. The information can be accessed via the following link: https://www.revenue.ie/en/corporate/information-about-revenue/statistics/local-property-tax/index.aspx.