Revenue contacts homeowners over property tax and deadlines

Almost one million homeowners across the State are being reminded of the need to arrange payment of the Local Property Tax (LPT) for next year while the deadline for paying the Vacant Homes Tax (VHT) is also approaching.

The LPT on a residential property for 2024 is based on the valuation of the property at the beginning of November 2021 and Revenue is writing to 800,000 property owners to remind them to set up their payment option. It said the easiest way is online through one of Revenue’s secure channels

As of earlier this week, a residential property is newly liable for LPT if it is a new build or has been refurbished and become occupied or suitable for use as a home between November 2nd, 2022 and November 1st, 2023.

A taxpayer who bought or built a new residential property over the same period is also newly liable and will be required to value the property as of November 1st, 2021. If it is a new build or refurbished they must value it as if it had existed in its completed state on that date.

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November 7th is the return filing date for the VHT, which is due on residential properties that are liable to LPT and are vacant. Vacancy is defined as the property that was occupied for less than 30 days in the past year.

There is no definitive database of vacant homes, but Revenue is establishing a register and has already written to the owners of approximately 25,000 properties to advise of the steps they need to take to submit a VHT return.

Those who received this letter are required to submit a return, even if their property does not meet the relevant conditions for the tax to apply.