I am advised by Revenue that the amount of Local Property Tax (LPT) due on a property valued between €1 and €100,000 (lowest Band), situated in a Local Authority that has not made any Local Adjustment Factor rate changes, would be €495 for the cumulative period 2013 to 2018 (€45 for 2013 and €90 per annum for 2014 through 2018). The amount of interest due would be €140 for all years up to 31 December 2018.
Persons liable for LPT who are also liable for Income Tax (IT), Corporation Tax (CT) or Capital Gains Tax (CGT) may incur an LPT generated surcharge. The LPT surcharge is 10% of the IT, CT, or CGT liability. Revenue applies the LPT surcharge if there are outstanding LPT returns and/or payment arrangements at the date of filing the IT, CT or CGT return. Once outstanding LPT returns are filed and payment arrangements are in place, the amount of the surcharge is compared to the LPT liabilities. Where this exceeds the LPT charge, it is reduced to the amount of the LPT liabilities outstanding. The surcharge is payable in addition to the actual LPT liability and interest that may arise for late payment.
