# property tax valuation and ltv tracker



## potnoodler (2 Dec 2012)

Apologies if discussed already, however seeing as it's nearly upon us we possibiliy will be submitting valuations to the revenue , so I arranged my 50% ltv with nib/dansk (who obviously want out of dodge ) in 2007 .
Where does that leave me and the thousands in the same position ,  it will be a lot cheaper for me to over value my house and pay the extra tax burden than to loose the rate , is that fraudulent and if not can you claim a refund later


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## potnoodler (2 Dec 2012)

No but if your rate of interest is determined by the ltv , then when every house in the state is about to be revalued , it could be the clause they need to get out


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## MrEarl (2 Dec 2012)

Hello,

My understanding is that Danske Bank (previously NIB) do not have a clause in their LTV Tracker Mortgage Documents, to trigger a request for a revaluation of your property.  Someone here might like to correct me, but that is something I have been informed and I believe to be true.

I further do not think we are going to be asked by the State, to have our homes valued, as part of this new property tax - at least, not initially.  Perhaps in later years, this will be requested of us, but for now I thought we were going to be asked to give our own opinion on the value of our properties (I expect, this to be the first step, to help get people to buy into the concept, then later the State can press for higher taxes from this source).

I would think a fair system for estimating the value of your house, would be the recently launched property register where we can see the sale price of recent houses on our roads etc - granted, this will not be appropraite for everyone, but it may be a reasonable place to start.


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## twofor1 (2 Dec 2012)

MrEarl said:


> My understanding is that Danske Bank (previously NIB) do not have a clause in their LTV Tracker Mortgage Documents, to trigger a request for a revaluation of your property. Someone here might like to correct me, but that is something I have been informed and I believe to be true.


 
T&c’s for my NIB LTV Tracker clearly state they reserve the right to convert it to their standard variable rate if at any time the LTV increases above 80%. 

It does not say how they would determine LTV at any given time, nor does it say they will definitely do it, it simply says they “reserve the right”.


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