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The Revenue wants to know how you're going to pay your property tax

Around 1 million letters will be sent out over the coming weeks.
Oct 11th 2014, 7:30 AM 11,572 19

THE REVENUE WILL shortly begin to write letters to ask people how they will be paying the Local Property Tax (LPT).

Letters will be written to around one million residential properties around the country. Those who have have opted to make payments through deduction or by direct debit will not be contacted.

Across the country 339,000 taxpayers have already opted to pay the tax by direct debit and another 168,000 have opted to have it deducted at source.

Property owners will be given a number of options of how and when to pay the tax.

Customers paying in installments are required to inform the Revenue by November 25. Those who intend to pay in full can do so until January 7.

Payment of the LPT saw a compliance rate of 93% in 2013 and 94% in 2014. Last year saw a yield of €318 million from the tax. This year so far there has been a yield of €385 million.

The LPT came into effect in 2013 and is charged on all residential properties in the State.

Councils, who have been given power to adjust the amount of LPT by 15%, voted on the extent of the cut to be given to taxpayers last month.

In Dublin, councillors voted in favour of cutting the tax by the full 15%. In Limerick a Fianna Fáil approved 3% cut in LPT was approved.

Across the country 14 councils have voted to reduce the rate of the tax in their administrative areas. This has resulted in six different rates of LPT across each value band.

Taxpayers can choose their payment method through the Revenue’s website. 

More: Limerick councillors reject motion to cut property tax by 15%

Also: ‘A gun to our head’: Dublin City Council votes to cut LPT rate by 15%

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Michael Sheils McNamee

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