Irish Taxi Forum
Public Area => Taxi Talk => Topic started by: john m on January 11, 2018, 11:45:45 am
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Drinking tea with me local Councillor says Keegan will ban traffic from College Green in three weeks .Then she tells me .Expect letters from revenue about your property tax .Although the council and the government agreed to no increase in property tax .Revenue have a different take on it .They say the value of your home has increased since you initially valued it and their remit is to charge the rate the council set on the present valuation not the value you put on it when the tax was introduced .I originally valued my bunker @120-140K she says that homes in Clondalkin now fall into the next bracket and the revenue will be instructing owners to revalue their homes to the present/actual value for LPT .
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Election is looming. My gaff was on the borderline too but one down the road sold for 38k above asking price........so it's just a matter of time.
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Its a great way of getting more coin out of us .Local TD says not me gove its the Revenue what did it ,I voted not to increase charges .When what he means is he voted not to increase the rate .It seems according to my pal some local Councillor from far far down the country contacted the Revenue for guidance and the Revenue are now looking to revalue your taxable asset.
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Whispers that it was a Dublin based poacher turned gamekeeper TD, John. My money is on Rossy baby.
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Drinking tea with me local Councillor says Keegan will ban traffic from College Green in three weeks .Then she tells me .Expect letters from revenue about your property tax .Although the council and the government agreed to no increase in property tax .Revenue have a different take on it .They say the value of your home has increased since you initially valued it and their remit is to charge the rate the council set on the present valuation not the value you put on it when the tax was introduced .I originally valued my bunker @120-140K she says that homes in Clondalkin now fall into the next bracket and the revenue will be instructing owners to revalue their homes to the present/actual value for LPT .
120-140k
Would have thought you couldn’t buy a shed for that in Dublin
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Whispers that it was a Dublin based poacher turned gamekeeper TD, John. My money is on Rossy baby.
Ross and Murphy want to change the tax to a site tax as Dublin home owners pay much more as their homes cost more for less than their country cousins .I would suggest it may of been a SF councillor trying to make this into an election issue ..
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Drinking tea with me local Councillor says Keegan will ban traffic from College Green in three weeks .Then she tells me .Expect letters from revenue about your property tax .Although the council and the government agreed to no increase in property tax .Revenue have a different take on it .They say the value of your home has increased since you initially valued it and their remit is to charge the rate the council set on the present valuation not the value you put on it when the tax was introduced .I originally valued my bunker @120-140K she says that homes in Clondalkin now fall into the next bracket and the revenue will be instructing owners to revalue their homes to the present/actual value for LPT .
120-140k
Would have thought you couldn’t buy a shed for that in Dublin
Thats all it was worth 4 years ago two in my estate for sale now for 225+.I tried to get our kid to buy a few years ago on our road went for 99k she prefered to spend her redundancy on travel.
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Purchased back in 2008 for 430k, stamp duty and fees another 20k.
Put another 40k into it.
Two years later it was worth around 230k.
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Purchased back in 2008 for 430k, stamp duty and fees another 20k.
Put another 40k into it.
Two years later it was worth around 230k.
430K what the fuck did you buy a small castle .I paid £10400 in 1988 mortgage was £19 a week that includes insurance .
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Purchased back in 2008 for 430k, stamp duty and fees another 20k.
Put another 40k into it.
Two years later it was worth around 230k.
430K what the fuck did you buy a small castle .I paid £10400 in 1988 mortgage was £19 a week that includes insurance .
I was still playing cowboys and Indians back in 1998.
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How the fuck can people pay such huge mortgages even on two average wages .
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We bought 2 years ago for €210,000. Next door is selling theirs and looking for €375,000. They have attic converted and extension, we have nothing done to it so how are they going to value each individual property
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Don’t have a big mortgage.
Sold a property which I owned.
Should have it payed off before the end of the year.
10 years less than the original 20 years it was taken out for.
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We bought 2 years ago for €210,000. Next door is selling theirs and looking for €375,000. They have attic converted and extension, we have nothing done to it so how are they going to value each individual property
They dont you do its a self assessment scheme but if you undervalue there is a penalty .Im sure if your present value is 300K but you sell for 500K then revenue will chase you for underdeclairing and hit you for unpaid tax plus penalties .
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Don’t have a big mortgage.
Sold a property which I owned.
Should have it payed off before the end of the year.
10 years less than the original 20 years it was taken out for.
Nothing better than getting that monkey off your back .
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Just checked the revenue site and they dont agree with my Councillor ..https://www.revenue.ie/en/property/local-property-tax/valuing-your-property/index.aspx (https://www.revenue.ie/en/property/local-property-tax/valuing-your-property/index.aspx)
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Don’t have a big mortgage.
Sold a property which I owned.
Should have it payed off before the end of the year.
10 years less than the original 20 years it was taken out for.
Nothing better than getting that monkey off your back .
Chalk it down.
Over 10 years ago I had no mortgage and Her Indoors wanted to move.
Increased my repayments every month over the last 9 years so on the last furlong now.
Finishing line in sight.
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Beginning to think my Councillor is scaremongering and there is an election comming ..https://www.irishtimes.com/opinion/local-property-tax-must-be-reformed-before-2019-1.3171479 (https://www.irishtimes.com/opinion/local-property-tax-must-be-reformed-before-2019-1.3171479)
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How the fuck can people pay such huge mortgages even on two average wages .
That was the going rate at the time John M, people saw no way out only to pay the exorbitant prices,
and then when the bubble burst and the banks went to the wall, it was the ordinary Joe Soap left in
Negative equity and the bankers walked away scott free with a government bailout !
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I think what she meant was we need to revalue our caves before the end of this year for next years tax liability to be assessed .So any letters will be to advise us .Bet this becomes a big issue in any election .
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I thought the current rates for the LPT were good till 2019?
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I thought the current rates for the LPT were good till 2019?
Thats what it says in Revenue .But when do we need to register new value for assessment for next time .Im thinking there is a bit of scaremongering going on to create an issue for the next election .
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You're supposed to declare the value and confirm it's accuracy when you make your annual return... bit like self assessment.
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Purchased back in 2008 for 430k, stamp duty and fees another 20k.
Put another 40k into it.
Two years later it was worth around 230k.
2008, 430K, had to be Carrigaline, probably Castle Heights ?
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You're supposed to declare the value and confirm it's accuracy when you make your annual return... bit like self assessment.
Is their not an exemption to that rule as the value was fixed until 2019?
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You're supposed to declare the value and confirm it's accuracy when you make your annual return... bit like self assessment.
My missus pays it,she's PAYE,not gonna do anything until we hear from Revenue in 2019.
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You're supposed to declare the value and confirm it's accuracy when you make your annual return... bit like self assessment.
My missus pays it,she's PAYE,not gonna do anything until we hear from Revenue in 2019.
+1
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Purchased back in 2008 for 430k, stamp duty and fees another 20k.
Put another 40k into it.
Two years later it was worth around 230k.
2008, 430K, had to be Carrigaline, probably Castle Heights ?
Na, miles off
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You're supposed to declare the value and confirm it's accuracy when you make your annual return... bit like self assessment.
Is their not an exemption to that rule as the value was fixed until 2019?
The value you declare/confirm is the first valuation within the current valuation period. Valuation periods are c.7 years long but, presumably, can be altered by Revenue/Govt as it sees fit. Hence if your house was built prior to 1 May 2013 the applicable value is the value on that date. The next valuation period commences on 1 Nov 2019.
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I wonder if this is another of those government fuck ups .if your gaff was built at the time of the introduction of the tax then the value is set for 7 years but if it was built after that then there is no facility in the legislation to fix the value so you have to declare it annually .As I said election issue Im sure FF/SF will offer a freeze or a limit on the increase in valuation to 25% of the previous valuation if you vote for them .
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You're supposed to declare the value and confirm it's accuracy when you make your annual return... bit like self assessment.
My missus pays it,she's PAYE,not gonna do anything until we hear from Revenue in 2019.
As I said above, we only bought 2 years ago. Within 2 months was a letter from Revenue, addressed to me(even though she is the bread winner and first name on all documents) that the LPT had to be paid or I risked not being tax compliant.
When we rang the tax office about it they said “it goes to the Mr in the house” we told them that it should have at least come to Mr & Mrs Vikkiz and not just me. I then proceeded to ask “ was it because I am self employed and can’t work if it’s not paid” they had no response for us.
She still pays it. But in full in Januarary on the day it’s due(I think)
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I have a standing order set up to pay the property tax.
They never changed it or notified me of any change.
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Maybe they intend(ed) to make new properties exempt until the next valuation date or even the valuation date after next. That'd give some scope for influencing the property market through valuation dates.
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Tax seems to have a random element about it im sure Vicci paid LPT on the value of his home when he bought it but his neighbor pays the tax on the 2013 value which could be considerably lower and possibly in a lower band .Seems unfair .
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Purchased back in 2008 for 430k, stamp duty and fees another 20k.
Put another 40k into it.
Two years later it was worth around 230k.
2008, 430K, had to be Carrigaline, probably Castle Heights ?
Na, miles off
Classes lake if'n ya went new, Bishopstown or Douglas if ya went
Second-hand, but 40K wouldn't put much of a dent in an old house.
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Depends how handy you are, I guess. '08 was probably the unluckiest time to buy but values are getting back to those levels as more gobshites are being sucked in to keep developers and bankers in the style to which they've become accustomed. Nobody will ever accuse us Paddies of learning from our mistakes!
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Rodent is there an anomaly .The value of the home is fixed at 2013 prices but if you sell the house for more the new tenent does not avail of the fixed price for LPT purposes but has to pony up at the value of the new purchase price . I wonder could you insist on the 2013 valuation as it was fixed by legislation or is the VALUE a moveable feast for revenue
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I'd tend to declare the 2013 valuation. I guess the 2013 value of a property completed in 2016 on one of the millions of sites abandoned during the recession would be a negative figure. Can one declare a negative figure for a rebate or is a minimum valuation figure specified?
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They can hardly say the gaff is only worth 200k when they possibly paid 400k for it....that 400k is now the value....cos they fukin paid that for it...that's why Rosso wants it on the Sq meterage so the rich folk that have average size gaffs will pay the same if not a little more than yourself John....rather than you paying a lot less cos ye live in a crime riddled hell hole!!
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Depends how handy you are, I guess. '08 was probably the unluckiest time to buy but values are getting back to those levels as more gobshites are being sucked in to keep developers and bankers in the style to which they've become accustomed. Nobody will ever accuse us Paddies of learning from our mistakes!
I had a colleague of mine (Kieran) tell me that he bought in '06 fer 460K.
I said to him; "Ouch ! That was at the height of the Boom !"
He sez to me; "Well Ken, ya know the Boom and at the height of the Boom there was a Peak
and at the Top of the Peak there was a Flagpole and on top of that Flagpole was a little bird,
Well I was that Little Bird !".
At least he did get miz Cork/Belfast job last week.
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They can hardly say the gaff is only worth 200k when they possibly paid 400k for it....that 400k is now the value....cos they fukin paid that for it...that's why Rosso wants it on the Sq meterage so the rich folk that have average size gaffs will pay the same if not a little more than yourself John....rather than you paying a lot less cos ye live in a crime riddled hell hole!!
NO HAL why would you have to pay the LPT on what you paid for it if you bought it this year ,the legislation clearly states ...Local Property Tax (LPT) is a self assessed tax. You must determine the market value of any property for which you are the liable person. You must determine the market value of each property as at the valuation date of 1 May 2013.
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They can hardly say the gaff is only worth 200k when they possibly paid 400k for it....that 400k is now the value....cos they fukin paid that for it...that's why Rosso wants it on the Sq meterage so the rich folk that have average size gaffs will pay the same if not a little more than yourself John....rather than you paying a lot less cos ye live in a crime riddled hell hole!!
But they could say the gaff was worth 200k or even -150k on the valuation date, right? Why would one answer a question that's not asked?
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They can hardly say the gaff is only worth 200k when they possibly paid 400k for it....that 400k is now the value....cos they fukin paid that for it...that's why Rosso wants it on the Sq meterage so the rich folk that have average size gaffs will pay the same if not a little more than yourself John....rather than you paying a lot less cos ye live in a crime riddled hell hole!!
Eh ! "Crime riddled hell hole", coming from a Louth man,
People/Stones/Glasshouses, Etc...
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Yeah...the market value....if they paid 400k for it...then that was the market value,if they let themselves get into a bidding war but felt it actually wasn't worth that much....well then they should have pulled out...anyways this is why Rosso wants to change the way LPT is charged/calculated.
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They can hardly say the gaff is only worth 200k when they possibly paid 400k for it....that 400k is now the value....cos they fukin paid that for it...that's why Rosso wants it on the Sq meterage so the rich folk that have average size gaffs will pay the same if not a little more than yourself John....rather than you paying a lot less cos ye live in a crime riddled hell hole!!
Eh ! "Crime riddled hell hole", coming from a Louth man,
People/Stones/Glasshouses, Etc...
Shurrup Ken....it was dramatic illustration purposes!!
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Eh ! "Crime riddled hell hole", coming from a Louth man,
People/Stones/Glasshouses, Etc...
Shurrup Ken....it was dramatic illustration purposes!!
Fer the smallest county in Eire, ye sure do get a lorra newspaper
headlines and all most usually are fer all the wrong reasons !
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Eh ! "Crime riddled hell hole", coming from a Louth man,
People/Stones/Glasshouses, Etc...
Shurrup Ken....it was dramatic illustration purposes!!
Fer the smallest county in Eire, ye sure do get a lorra newspaper
headlines and all most usually are fer all the wrong reasons !
Punching above our weight alright!!
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Recently sold mine for 79% over declared value. Revenue said no penalties or extra payments up to + 80% over valuation given.
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Don’t have a big mortgage.
Sold a property which I owned.
Should have it payed off before the end of the year.
10 years less than the original 20 years it was taken out for.
Nothing better than getting that monkey off your back .
You'll find there's always another in the shadows.
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Don’t have a big mortgage.
Sold a property which I owned.
Should have it payed off before the end of the year.
10 years less than the original 20 years it was taken out for.
Nothing better than getting that monkey off your back .
You'll find there's always another in the shadows.
Wobbly stool and a birra rope?
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Cliff jumper.
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Eileen Dover !
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Don’t have a big mortgage.
Sold a property which I owned.
Should have it payed off before the end of the year.
10 years less than the original 20 years it was taken out for.
Nothing better than getting that monkey off your back .
You'll find there's always another in the shadows.
Wobbly stool and a birra rope?
No...was referring to John M's Mrs filing later in the yr after she hears of his Cork exploits with the Crypt-Kicker Trio in tow.
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The Crypt Kickers....good name for a band!!
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https://www.irishexaminer.com/ireland/government-plans-local-property-tax-overhaul-465889.html (https://www.irishexaminer.com/ireland/government-plans-local-property-tax-overhaul-465889.html)
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Mightn't be as good as you think Johnny.
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Mightn't be as good as you think Johnny.
This must be what she was talking about and why the Government are trying to change things ..The report also warned that “precedent suggests that if the taxable value diverges significantly from the market value that constitutional issues could arise”.
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Private ownership is being eroded. We'll all be dead but the babies in the Rotunda and Castlebar general will never own a gaff.