Dáil Éireann Debate, Thursday - 26 November 2020
211. Deputy Pearse Doherty asked the Minister for Finance the method through which a person (details supplied) in County Donegal can revalue a residential property for the purposes of the local property tax in circumstances in which the value of the property has potentially decreased since the date of initial valuation on 1 May 2013; and if he will make a statement on the matter. [39402/20]
Amharc ar fhreagraSection 13 of the Finance (Local Property Tax) Act 2012 (as amended) sets out how residential properties are to be valued for Local Property Tax purposes.
It is a matter for property owners to determine the valuation of their properties on the 'valuation date'. The current 'valuation date' is 1 May 2013 and any property valuation declared on that date remains valid until 31 October 2021. The 2013 valuation is not affected by any repairs or improvements made to a property or by any general increase or decrease in property prices that occur over the course of the ‘valuation period’ (2013 to 2021). Any reductions in the value of a property during a ‘valuation period’, including the impact of adjacent road upgrades, cannot be taken into consideration until the next ‘valuation period’.
Revenue has confirmed that it has already been in contact with the person in question to explain the position.
