Property taxes in Ireland

Did you know that as at Oct. 2016 the rate of LPT compliance is 97% based on 1.9m properties and total collections of €382m.

An annual self-assessed Local Property Tax (LPT) charged on the market value of all residential properties in the State came into effect in 2013 and is being administered by Revenue.

The property tax year runs from 1st November to the 31st October.

The amount of LPT due for 2017 depends on the value declared for the property on 1 May 2013 and the LPT rate applying to the property for 2017. Property values are organised into valuation bands. The tax liability is calculated by applying the tax rate to the mid-point of the band.

Band 1 0-€ 100,000, LPT € 90 (50,000*.18%)

Band 2, € 100,001 to € 150,000, LPT € 225 (125,000*.18%)

And so on…

The rate of LPT is 0.18% for properties up to a market value of €1m. Residential properties valued over €1m are assessed at the actual value at 0.18% on the first €1m in value and 0.25% on the portion of the value above €1m (no banding applies).

There are a number of very flexible payment options available when settling your LPT liability.

Contact the Tax Man to ensure you are fully compliant with your LPT obligations.

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