LPT is based on the market value of the property. The property owner is required to self – assess the value of their property as at 1 May 2013.
Where the property is valued at €1m or lower, the tax will be based on the mid – point of the relevant band at a rate of 0.18%.
For properties valued over €1 million the tax will be charged at 0.18% on the first €1million of value and 0.25% on any balance in excess of €1million, with no banding applied.
The LPT comes into force on 1 July 2013 and will apply for the second half of 2013 with a full year payment due in 2014.
|Market Value||Local Property Tax 2013||Local Property Tax 2014|
|€0 to €100,000||€45||€90|
|€100,001 to €150,000||€112||€225|
|€150,001 to €200,000||€157||€315|
|€200,001 to €250,000||€202||€405|
|€250,000 to €300,000||€247||€495|
A range of payment options are available to liable persons to pay either in full or instalments including:
- Payment by credit card
- Cash payment through certain service providers
- Direct debit payment
- Voluntary deductions at source from:
- Irish salary / Occupational Pensions
- Certain payments from Departments of Social Protection
Where LPT remains outstanding, a charge will attach to the property. This charge will have to be discharged on the sale/transfer of the property.
The Household Charge
The Household Charge will be abolished from 1 January 2013.
For liable persons who did not pay the Household Charge in 2012 and who pay the charge to the Local Government Management Agency by 30 April 2013 arrears of Household Charge will be capped at €130.
From 1 July 2013, any outstanding Household Charge will be increased to €200 and added to Local Property Tax due on the property.
The Revenue Commissioners will collect the outstanding charge through the LPT system.
Standard Revenue interest and penalties will apply.
The Revenue are responsible for the collection of the LPT.
March 2013 Revenue will issue explanatory material and LPT return to liable persons
1 May 2013 Valuation Date
7 May 2013 Due date for submitting paper LPT return to Revenue
28 May 2013 Due date for submitting electronic LPT return to Revenue
1 July 2013 Commencement of phased payments such as direct debit or deduction at source from Irish salary