The new Local Property Tax deadline is fast approaching, and property owners are now receiving a letter containing their account details from Revenue.
So what’s this all about, and what do you, a property owner, need to do?
Local Property Tax is an obligatory, self assessed tax. Owners need to do some research into how much their property is worth, and declare their opinion of value to Revenue. Most people will do this online (using the Property ID and PIN that’s in the letter Revenue sent to owners), whereas some will need to phone Revenue to ask for help.
It’s 8 years since we last had to value our property for local property tax purposes. And as everyone knows, property values have changed considerably in the intervening years.
The valuation date is 1 November 2021 – what this means is that owners must as themselves: How much do I think my property is worth on that date (at the present time)? Owners can do this research using the following ways:
If your property is unusual, or perhaps has problems like planning or structural issues, or may be entitled to an exemption, then you should arrange an LPT valuation.
Watch our free webinar to explain all about LPT: the exemptions, the bands, the ups and downs of LPT.
You can access below. Simply fill in your details below.
REMEMBER: LPT Returns must be made before 7 November, so don’t wait until the last minute to Get Your House in Order!