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An annual Local Property Tax (LPT) is charged on the market value of all residential properties in the state.  The charge applies whether the property is owner occupied or an investment residential property.

LPT is effective from 1 July 2013 and will be calculated by reference to the market value of the residential property at 1 May 2013,

The amount of LPT due for 2017 depends on the value declared for the property on 1 May 2013 and the LPT rate applying to the property for 2017. Property values are organised into valuation bands. The tax liability is calculated by applying the tax rate to the mid-point of the band. The rate of LPT is 0.18% for properties up to a market value of €1m. Residential properties valued over €1m are assessed at the actual value at 0.18% on the first €1m in value and 0.25% on the portion of the value above €1m (no banding applies).

It is important to note that if you have not filed and paid your LPT a late filing penalty will be applied when you are submitting your personal or corporate tax return.

For assistance with your LPT filing and payments please contact a member of our team.

Jane Jackson, Tax Manager, Dundalk

Mairead Rooney, Tax Manager, Balbriggan

Read our Tax Blog to find out:

Payment deadlines for 2017

What you need to do for 2017

KEY DATES:

LPT charge for 2017:

  • 1 November 2016Liability (ownership) date for 2017
  • 25 November 2016Deadline for confirming your payment method to Revenue if spreading your payments over 2017 (phased payments).
  • 5pm on 11 January 2017Deadline for paying in full, in one single payment or confirming that you will pay in full by Single Debit Authority.

Key dates for paying your 2017 LPT charge:

  • 5pm on 11 January 2017Deadline for paying in full by cash, cheque, postal order, credit card or debit card.
  • January 2017Phased payments by Deduction at Source and regular cash payments through a Payment Service Provider to start in January.
  • 15 January 2017Monthly Direct Debit payments commence and continue on 15th each month thereafter.
  • 21 March 2017Single Debit Authority payment deducted.

 

Jane Jackson – Tax Manager, Dundalk

Contact Jane For General Enquiries

 

Mairead Rooney – Tax Manager, Balbriggan

Contact Mairead today