The Government have confirmed the new agreed tax bands for Local Property Tax (LPT) in advance of the new legislation being implemented and for Revenue to prepare for the new charging structure in time for 1st November.
These valuations will be reviewed every 4 years. All new properties built between valuation dates will be retrospectively valued as if they had existed on the preceding valuation date and become liable on the next liability date 1st November.
Finance Minister Paschal Donohoe said:
“The majority of homeowners are likely to see either a decrease or no change. Where increases arise, the majority will be a single band (€90), notwithstanding the significant increases we have seen in property values since 2013. We have maintained the overall structure of the tax which is broadly understood and accepted.”