LPT Confusion

[AshKhan]

Hi All,

Just looking for some advice because I have recently bought a house and LPT is not very clear to myself.

- Bought the House in Aug 2024.
- Solicitor confirmed LPT was fully up to date.

Is it this November that I need to pay the LPT for 2025 or is the payment required in November for the year 2024?

Cant seem to figure it out if I am paying the previous year or the year ahead?

Thank you

 

[ClubMan]

Solicitor confirmed LPT was fully up to date.

What exactly did they mean by this?
Is it paid by the previous owner for the full LPT tax year 2024?

If it is then you are presumably only liable to pay it from January 1st 2025?

You should still check your LPT online account to ensure that the property is registered to you, the valuation is correct, and you have a suitable payment method set up for when you're due to pay it.

November 1st is the LPT valuation date, not the payment deadline or due date.

Local Property Tax - what you need to do for 2024

This page describes what you need to do for 2024 in relation to Local Property Tax

www.revenue.ie

 

[elcato]

When you bought the house in August, your solicitor would have refunded the amount paid by the seller for LPT in 2024 pro rata. So about 1/3 of the annual amount paid.

 

[ClubMan]

When you bought the house in August, your solicitor would have refunded the amount paid by the seller for LPT in 2024 pro rata. So about 1/3 of the annual amount paid.

When we sold my mother's house early in the year we had paid the LPT in full for that year and didn't bother with any pro-rata deduction/refund.
So some sellers will just pay it for the year in which the property was sold.

 

[AshKhan]

When we sold my mother's house early in the year we had paid the LPT in full for that year and didn't bother with any pro-rata deduction/refund.
So some sellers will just pay it for the year in which the property was sold.

Sorry that What I meant. they paid for 2024 and it was then it was a pro-rata deduction when the sale closed. So from reading your message and the link provided, it is in Jan 2025 that I have to pay for 2025?

 

[ClubMan]

Sorry that What I meant. they paid for 2024 and it was then it was a pro-rata deduction when the sale closed. So from reading your message and the link provided, it is in Jan 2025 that I have to pay for 2025?

I'm confused. Did the seller pay for the full year 2024 or not? If they did then you are due to pay it from 2025. If they didn't (or paid for only part of 2024) then you need to start paying earlier. Your solicitor should be able to clarify this for you.

 

[Freelance]

Sorry that What I meant. they paid for 2024 and it was then it was a pro-rata deduction when the sale closed. So from reading your message and the link provided, it is in Jan 2025 that I have to pay for 2025?

So it sounds like your 2024 LPT is all sorted.

The date on which you pay your 2025 LPT depends on how you choose to pay it. The 2025 arrangements haven't been published by Revenue, but here is the link to the 2024 payment arrangements: Expect 2025 to be much the same:

https://www.revenue.ie/en/property/local-property-tax/what-to-do/paying-lpt-charge.aspx

The date by which you need to pay your LPT charge depends on the payment option you choose:

• January 2024 - phased payments start for deduction at source and regular cash payments through a payment service provider.
• 10 January 2024 - latest date for paying in full by cash (through a payment service provider), cheque, credit or debit card.
• 15 January 2024 - monthly direct debit payments start, and continue, on the 15th day of every month.
• 21 March 2024 - deduction date for Annual Debit Instruction (ADI) payment.

You should have confirmed your payment method to Revenue by 01 December 2023 if you are spreading your payments over 2024.

Please log into the LPT Portal to make, or arrange to make, your payment online.

You could consider paying by monthly Direct Debit, there is no charge or interest and it spreads the pain, instead of it becoming yet another big January bill.

The only significance of November is that this is the date (1st November) on which the property is assessed/valued. That's only really an issue for new builds and properties that have changed from commercial to residential.