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Over 5,000 up payment on property tax bills loom for home owners

Thousands of home owners had a change of mind about how much they paid in local property tax (LPT) - and subsequently upped the amount.

The annual self-assessed tax is charged on the market value of all residential properties in the State.

New figures show that "over 5,000 valuations have been increased arising from a combination of self-correction and Revenue challenges."

The Revenue Commissioners said that, since returns were filed, there have been around 5,100 properties where the owner has opted to self-correct upwards their property valuation band.

"Included in this figure are self-corrections made in the context of property sales, where the LPT position is fully regularised before the property conveyance is completed," the figures show.

In half the self corrections, the number of valuation bands was increased by just one, while it was increased by two bands in nearly a third of properties.

The Commissioners released the figures as preparations were being made for the new tranche of payments due for 2015.

Householders can opt to pay what they owe in January - the same month that the first water bills will be dropping on door mats around the country.

The pay and file season for LPT 2015 will be starting soon, and Revenue will begin writing shortly to approximately one million residential property owners to give them the opportunity to decide how and when they want to pay it.

However, they will not be writing to anyone who has opted to pay the tax by deduction at source, or by direct debit. Instead, it will roll over the existing payment method chosen.

It comes as 14 local authorities have decided to reduce the rate of the tax for their administrative area resulting in six different rates of LPT for each property value band.

Revenue will be making the changes automatically. Yields of €385m have been made so far this year with 94pc compliance.

"Because county boundaries and postal addresses are not always aligned, there will be cases where the LPT charge is incorrect, and a dedicated team will be available to handle these cases," a statement from Revenue said.


Property owners who want to avail of a phased payment option such as direct debit, or deduction at source from salaries or pensions, must inform Revenue officials by November, 25.

This is to allow enough time to have their preferences in place from the start of the year.

Those paying in full with a single payment by debit or credit card or cheque, must pay in advance of January 7.

However, if a property owner agrees to pay in full by single debit authority by January 7, their account won't be debited until March 21.