Sunday 18 February 2018

Here is your property tax form: Over 90pc of residents expected to pay up

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The new property tax form can be seen in PDF format here >>

Charlie Weston Personal Finance Editor

HOMEOWNERS have been warned it will be up to them to notify Revenue that they are liable for the new property tax if they do not receive notification about it.

And more than nine out of 10 people are expected to pay the controversial tax, according to experts.

Letters and emails to more than 1.6 million homeowners are due to be sent from Monday, with details of the due payment.

But any homeowner who does not get a letter will be liable to contact Revenue themselves, according to the Irish Tax Institute.

"Even if you hear nothing from Revenue and do not get a letter, you will need to act yourself," said the institute's Una Maguire.

Everyone who owns a home will be required to file a property-tax return to Revenue. There is a fine of up to ¿3,000 for failing to do so.

Ms Maguire said the way the legislation was framed put the onus on the taxpayer to correctly assess the tax due.

Those who do get a letter but are not due to pay the tax -- because they do not own a home -- have just 30 days to tell Revenue that they are not liable.

It has also emerged that granny flats, home offices and vacant homes may be liable for the tax. Sheds attached to a property will come into the reckoning for the tax, except farm and commercial buildings, the institute said.

People in trouble with their mortgage repayments will be able to offset some of the interest they are paying on the home loan and avoid the tax. But this will only apply to those on lower incomes.


The letters, due to go out from Monday, will include a two-page form to be filled out by the property owner. There will also be an estimate of the value of the property, guidelines to allow homeowners to check the value themselves and an identification number for the property.

The identification will remain the same even if the property is sold. Homeowners will also get a personal identification number.

The letter and the return form will ask people to put a value on the home, detail the tax due and select from one of six payment methods.

There are 20 valuation bands. Homeowners select the mid- point of the band their property fits into and multiply that by 0.18pc to get the tax amount.

Anyone filling out the forms manually will have to return them by May 7, but those who choose to make a return online and pay electronically have until May 28 to get their return back to Revenue, the Irish Tax Institute said.

If people do not pay the tax, Revenue will use the estimate they have given the property as the amount it expects to collect. The tax experts said they expected most people to pay the tax as Revenue has a range of powers to ensure a high level of compliance.

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