Cosgrove Gaynard Solicitors

Local Property Tax  

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The Local Property Tax (LPT) comes into effect on the 1 July 2013. There will be a half year charge for 2013 and a full charge from 2014 onwards.

The main features of the Local Property Tax are as follows:

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1. Liable persons are the owners of residential property.

2. The tax will be collected through a self assessment system through the Revenue Commissioners .  

3.  The assessment of the tax will be based on the market value of the property. The market value will fall into one of the tax value bands . A rate of tax has been set against each of the tax bands.

4. Payment can be made by card, instalments or deduction at source.

5. Exemptions exist for certain properties ie newly constructed, mobile homes, certain properties owned by a public body or charities, properties unoccupied due to infirmity and  certain unfinshed developments.

6. Further exemptions exist for new properties purchased before the end of 2016 and for second hand properties purchased by first time buyers in 2013.