LPT: Should we stick with assigned band in Revenue letter or go to next band?

[newseeker1]

We purchased our house - a 2nd hand 3 bed semi detatched in 2008 in an urban area. We were 1st time buyers and paid about 300k for it

The house was 2nd hand and needed work done on it. Over the years we've upgraded it by changing the bathroom and kitchen and changing the windows etc. We've done lot of work on it

Got our letter today from revenue re property tax and they have listed us in band 3 for property tax (150-200k range)

From our point of view, we'd like to think that given the work we've done on the house since we bought it and compared to our neighbours houses our house is in far better condition than the others around it and really if someone bought it they wouldnt have to do a thing with it - walk in and unpack. We'd like to think we'd get more than 200k for it

Couple questions

• If were were to file with revenue to say that we believe our house is a Band 4 for property tax are revenue likely to contact our neighbours to say that we have upt'd the value of our house and that their houses are deemed to be in same bracket too because of that.
• Would revenue declare what house on the road/estate was valuing at a higher value. We have to live beside these people after all

Or

• Is it a case that we might like to think that we'd get over 200k for it but reality is that we wouldnt. We've gone through the my home.ie calculater that looks at properties sold in estate in recent times and there calculation is coming out at band 3
• Based on Conor Pope article http://www.irishtimes.com/life-and-...-property-price-estimates-what-next-1.1324793 are we safe enough paying property tax at band 3 and if in few years time were to sell it for more than 200k are safe enough that revenue wont come after us looking for money as they believe we under valued our house as part of property tax estimate

We're not sure what to do - stick with Band 3 or go with Band 4
What do people think? What are the pros and cons of each ?
Thanks

 

[newseeker1]

Thanks for reply

How accurate do people think Conor Pope article at http://www.irishtimes.com/life-and-...-property-price-estimates-what-next-1.1324793 is when he says the following

But how can I be expected to get it exactly right?
You can’t be. And don’t be worried if you don’t. Tax experts have indicated that they do not anticipate the Revenue will police the tax bands rigidly. If you say your house falls into the €150,000-€200,000 bracket and pay the tax at that level for three years before selling it for between €200,000 and €250,000, it is unlikely there will be repercussions.

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• Would people have much faith that there wouldn't be repercussions
• How likely is it that there will be repercussions
• What are the reprecussions?. I know its fines from revenue but what are the fine rates/percedntage?

Thanks

 

[Tintagel]

The Revenue are up to their eyes in alligators. Do you honestly think that they will be checking to see who has upgraded their bathroom and kitchen.