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Residential Property Tax payable on Market Value announced

18/03/2013

 

It has been announced that a Residential Property Tax payable on the Market Value of a property is to come into force from July 2013 in Ireland and will be administered by the Revenue Commissioners.

At present Revenue is issuing letters to each homeowner in the country including notification of an estimated amount of local property tax, a booklet on the operation of the tax, valuation procedures and payment methods and a form for completion. The owner of the property and not the occupier is the person responsible for the tax.

The completed forms with a self-assessment of property value must be returned to Revenue by 7th May 2013 on paper or 28th May 2013 if returned electronically. The return will be valid until 2016 unless circumstances change.

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