The Local Property Tax valuation date was previously deferred from 1st November 2020 to 1st November 2021. The Government have now 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.

Image credit Journal.ie

 

The Finance Minister Pashal Donohoe, has 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.”

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 (1 November).