LPT: Revenue Property Valuation Guide (The Heatmap) now live

[Sumatra]

But if a client mistake on his/her self assessment generates a revenue audit bet you wouldn't turn away the business. (not directed at anyone here just a ludicrous triviality)

Seriously, I understand what you are saying Tommy and thanks for answering my question.

 

[T McGibney]

But if a client mistake on his/her self assessment generates a revenue audit bet you wouldn't turn away the business. (not directed at anyone here just a ludicrous triviality)

Yes, accountants just looooooove Revenue Audits

 

[truthseeker]

Being bandied around where? The scariest thing I've heard is that non-LPT compliant people may be refused tax clearance certs, which could hurt some self-employed people.

Clearly you have been reading different newspapers.

Lets see, theres the snitch clause, the [broken link removed] for relevant persons (previously reported as a 100 euro a day fine for homeowners - same link), the pillage your bank account threat, the sheriff, court or attachment orders threat, the financial audit threat, the no tax clearance cert threat......

 

[mandelbrot]

Clearly you have been reading different newspapers.

Lets see, theres the snitch clause

which doesn't affect the owner, but the buyer

, the [broken link removed] for relevant persons (previously reported as a 100 euro a day fine for homeowners - same link),

which doesn't affect homeowners

the pillage your bank account threat, the sheriff, court or attachment orders threat,

these are the same threat surely, and no different than enforcement/collection for any other self-assessment tax

the financial audit threat

basically says exactly what I said earlier in the thread; that outright non-compliance will feed into a customers risk-rating

the no tax clearance cert threat......

which again is the same "threat" as applies to all self-employed people in relation to any of their other self-assessment taxes

I don't read the newspaper, but thank you for confirming for me that I'm probably right not to..!

I take Time's point that these supposed news items have been bandied about in such a way as to scare people, but at the end of the day none of the above are "news", with the possible exception of the snitch clause (which doesn't affect the homeowner directly), as all they essentially say is "this is a self-assessment tax, collected and administered in the same way as the rest of the self-assessment tax system". Big deal.

EDIT: To my horror, I find myself starting to agree with WizardDr - maybe there should simply be mandatory tax returns for everyone, like they have in USA / Canada, and that way people wouldn't be freaking out like this... I can only put a large chunk of this hysteria down to fear of the unfamiliarity of self-assessment

 

[Sumatra]

I thought in the event of an undervaluation by the seller the 'snitch clause' could (a) make the seller liable for more tax and (b) would give the buyer an opportunity to drive down the price. Hence potentially the owner could be effected.

USA /Canada -but I bet the local authorities have to account for the way they spend tax payers money. They certainly do in France so when they say almost every country has a property tax they are telling the truth but very few countries are like us with nno accountability. I'm afraid the Irish have never learnt how to use hysteria to its full potential.

"The valuation of your property for LPT purposes on 1 May 2013 will stay the same for 2013, 2014, 2015 and 2016".

If you make a mistake on your valuation in 2013 can you correct it for 2014,15 and 16?​

​

 

[MrEarl]

No category for 'end terrace' house as usual.

Hello,

I have the same problem. If I accept a Semi-D. description, then I find myself in Category 9 ... if I accept a Terraced description, then I find myself in Category 6 - can't wait to see what Revenue have come up with :cry:

To add insult to injury, the house next door to me sold about a year ago, for a price equal to approx Category 5, although granted it's terraced and not an end of terraced house, so there's something extra most likely to be added to my own.

This exercise is more than a little depressing and as for the thought of having to pay a valuer, out of my pocket, to clarify the situation - this only adds insult to injury imho.

Regards

Mr. Earl.

 

[JAM3114]

Hi, also wondering what value band my house is in. 3 bed detached town house. Built in 2004 with market value of 240k. In 2010 a better house sold for 214.6k. Our house is only about 1100 sq ft. What % has property prices declined since 2010? Based on revenue calculations we're in Band 3 but I would doubt we'd get anywhere between 150k - 200k for our house if we tried to sell. Would it be better to stick to Band 3 or argue our case for Band 2?

 

[partnership]

If your house as per revenue site is category 2 100001 to 150000 but houses recently sold for 90000 as per property price register can you put the 100k figure and will revenue accept it without a valuation

 

[Guns N Roses]

If your house as per revenue site is category 2 100001 to 150000 but houses recently sold for 90000 as per property price register can you put the 100k figure and will revenue accept it without a valuation

Yes. I don't see why Revenue would'nt accept the valuation..

 

[ClubMan]

I have the same problem. If I accept a Semi-D. description, then I find myself in Category 9 ... if I accept a Terraced description, then I find myself in Category 6 - can't wait to see what Revenue have come up with :cry:

To add insult to injury, the house next door to me sold about a year ago, for a price equal to approx Category 5, although granted it's terraced and not an end of terraced house, so there's something extra most likely to be added to my own.

Why on earth would you class your house as a semi D if it's a terraced house (even if it is end of terrace)!?

 

[David_Dublin]

Why on earth would you class your house as a semi D if it's a terraced house (even if it is end of terrace)!?

Isn't an end of terrace house = a semi detached house? I always thought it was. Surely a semi detached house is one which has another house stuck to it on one side, and none on the other, which is the case with an end of terrace.

 

[demoivre]

Isn't an end of terrace house = a semi detached house? I always thought it was. Surely a semi detached house is one which has another house stuck to it on one side, and none on the other, which is the case with an end of terrace.

It is but not a row of houses stuck to one side !! Have to say it's the first time I've ever heard such a viewpoint.

 

[tallpaul]

It is but not a row of houses stuck to one side !! Have to say it's the first time I've ever heard such a viewpoint.

I would have to agree with this. I think the clue is in the title in this case. In any event, if Revenue have estimated that a terraced house is to be valued less than a semi-d, why would you seek to have it classified as worth more.

I think a lot of people are getting worked up over nothing. In cases where, in one's opinion, a house has been overvalued, you can reduce the value provided you have evidence in the event that Revenue come calling. If the valuation is under, notwithstanding the backside-covering text from Revenue, surely you can hoist Revenue by their own petard with their own documentation.

 

[David_Dublin]

After a little google business I see there seems to be some sort of agreement that a terrace is three or more houses built together, that solves it. Now back to the debate....

 

[TarfHead]

Revenue website has my house at a band lower than the one I calculated using data on property price register.

Difference is €90 (50,000 * 0.0018), €45 this year. Is it worth making a return based on the lower 'valuation' ?

I think it isn't.

 

[irishmoss]

Isn't this the whole problem? Not everyone reads the newspapers or sites like this to explain to people how this is going to work. The system they chose is flawed but they are being very clever because if you mess up they will penalise you.
This should be straightforward system to make it easy for people to understand but no we couln't do that here in dear old Ireland!

Revenue haven't valued your house - they are just showing you what they have calculated to be the average value of houses like yours in your electoral area based on sale prices since 2010.

 

[ClubMan]

Isn't an end of terrace house = a semi detached house? I always thought it was. Surely a semi detached house is one which has another house stuck to it on one side, and none on the other, which is the case with an end of terrace.

No.

End of terrace = terraced.
Semi detached = one of a pair of adjoining houses.
Detached = standalone house.

In the spirit of this thread I'm sure that somebody will look for and find some other unusual arrangement of houses that does not fit into these categories but that should cover the vast majority of homes.

 

[ClubMan]

Revenue website has my house at a band lower than the one I calculated using data on property price register.

Difference is €90 (50,000 * 0.0018), €45 this year. Is it worth making a return based on the lower 'valuation' ?

I think it isn't.

See what figure they come up with on the letter that they send you. If it's the lower "valuation" (I know I know!) then I would just take it.

 

[geri]

No offence intended, but I think that the suggestion that people should use "their accountant" to offer opinion on the property value being submitted, shows a certain remoteness from the general populace in relation to this issue. I dont have "an accountant" as I am sure many other people dont. If I wanted an accountant to do this one thing for me, I would have to hire one and pay him I'm sure. I don't see the point really.

 

[David_Dublin]

Anyone receive their letter yet? When are we expecting letters to arrive?