local property tax

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Local Property Tax new deferral date

Revenue had deferred payments of Local Property Tax paid by single direct debit to 21st May 2020, due to Covid-19.

This has now been further extended to 21st July 2020

If this applies to you, there is no need for you to do anything further as this will automatically be deferred to the new payment date.

While you are here, Read more of our Covid-19 updates here

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Local Property Tax deferred Covid-19

Revenue have confirmed that payments of Local Property Tax paid by single direct debit have been deferred due to Covid-19.

This will now be due for collection on 21st May 2020

If this applies to you, there is no need for you to do anything further as this will automatically be deferred to the new payment date.

This has been implemented to reduce pressure on property owners amid the coronavirus outbreak.

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Target of €500m a year to be achieved from Local Property Tax

As reported in the Irish Times, 18.09.19, the Oireachtas Budgetary Oversight Committee has advised of potential options in overhauling how local property tax is charged and collected. The Oireachtas aim is to minimise charges when valuation increases and have suggested a central rate to achieve this.

In 2018, local authorities collected €470 million in Local Property Tax. The Oireachtas Committee has said the State should set a target of collecting €500 million a year.

Other options put forward include;

  • Local Authorities setting their own targets and rates for each location
  • Facility to defer payments if taxpayer’s income is below threshold of €15,000 or has declared insolvency

Committee chairman Colm Brophy said;

“The committee notes the importance of maintaining simplicity and transparency for taxpayers. Further, from an administrative perspective, a costly and complex system runs counterproductive to the objective of generating additional net revenue,” 

Read more on property tax here
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Are you claiming exemption from property tax?

An exemption from paying Local Property Tax was introduced to all homeowners that purchased a property in 2013. This exemption is due to end this year and therefore homeowners that purchased their home in 2013 will be liable for property tax for the 1st time in 2020.

As reported in the Irish Times this week, Revenue have written to these homeowners requesting they confirm that the property is their main residence since 2013 and the date they purchased it, thus confirming they were entitled to claim exemption from property tax since 2013. It is thought that there are approximately 12,000 homeowners claiming this exemption currently.

Penalties for false claims can be up to €3,000. Ensure you liaise with Revenue to ensure your record is up to date.

Why not also read more on Local Property tax here

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