Monday 20 November 2017

Homeowners have until 5pm this afternoon to make their lump sum property tax payment

Short time frame left in which to pay lump sum (stock photo)
Short time frame left in which to pay lump sum (stock photo) Business Desk Business Desk

Homeowners have until 5pm Wednesday afternoon to pay their property tax

Those who pay the lump sum amount by single debit authority, debit card, credit card, cash, cheque or postal order have a short time frame left in which to do so.

Failure to meet this deadline could result in interest as high as 8pc added to the tax bill.

Revenue sent 300,000 warning letters warning that property owners must make the payment by this deadline.

And that seemed to do the trick for many, with a large number of property owners having already paid for 2017.

A report last week indicated that the tax authority collected €463m from the tax last year, with some 97pc of owners paying the tax last year.

Those who want to pay the tax by electronic cheque – what Revenue calls an annual debit authority – must inform tax officials by Wednesday about this, and the funds will be taken out of their bank account in March.

If you wish to pay your property tax in full, you most likely already got a letter from Revenue with your property ID and PIN, confirming the amount due.

You can log on to the website and access the account with these details, paying by debit or credit card - or inputting your bank account details for a transfer from your account.

At this stage, cheque payments are too late as Revenue requested these by Friday, January 7, to give time for the cheque to clear ahead of the deadline.

Homeowners who pay by direct debit or in cash installments don’t have to do anything ahead of the deadline.

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