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Saturday 30 August 2014

Quarter of homes 'under 100,000'

Published 07/10/2013 | 13:12

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A quarter of homes have been valued for tax by their owners at less than 100,000 euro

A quarter of homes have been valued for tax by their owners at less than 100,000 euros, official figures have revealed.

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The Revenue Commissioners said the self-assessment valuations for the property tax showed that 86% of the country's homes are worth less than 250,000 euros.

The figures also showed that the most compliant region for paying the levy is Dun Laoghaire/Rathdown, where 92% of households have paid up.

The least compliant regions were Donegal and Louth, where the payment rate was as low as 84%.

Other figures from the updated local property tax database showed that only 0.2% of the country's 1.95 million homes are worth more than one million euros.

Elsewhere, 28.6% of homes are valued at between 100,001-150,000 euros; 21.9% between 150,001-200,000 euros; and 10.4% between 200,001-250,000 euros.

Some 200 million euros has been collected by the Revenue by the end of September.

In a further breakdown of the property tax regime, the Revenue also gave details on exemptions.

Some 4.7% of homes have been classed as p yrite damaged; 4.3% are owned by a person who is severely incapacitated; 16.1% are classed as being in ghost estates; and another 17.1% are lying empty after a developer failed to get a buyer.

Another 15% are classed as long-term illness and 0.1% are diplomatic buildings.

Most people who have paid the tax have used a credit or debit card while almost one third paid by cheque, or an equivalent.

Press Association

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