Friday 20 October 2017

3,600 houses worth more than €1m across the country

3,600 houses worth more than €1m across the country
3,600 houses worth more than €1m across the country
Fionnan Sheahan

Fionnan Sheahan

3,600 homes across the country were valued at €1m or more in the country for the property tax, the annual report of the taxpayers’ watchdog reveals.

The number of million euro homes was actually 20pc higher than the Revenue Commissioners expected, the Comptroller and Auditor General report says.

A further clampdown on property tax valuations is being planned by the Revenue, the report said.

The Government actually underestimated the amount of money to be collected from the property tax. €250mwas expected to be collected, with €259m actually coming in last year.

The report says 3,900 property owners corrected the property valuation upwards this year.

1,800 farmers opted to pay property tax by deduction from Department of Agriculture payments.

The C&AG has recommended using additional ways to ensure compliance with property tax valuations. Revenue has indicated it intends to broaden the ways it employs to value property.

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