More charges from the Corpo

[john m]

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

[Jack Meoff]

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.

[john m]

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

[Belker]

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 !

[john m]

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 .

[Shallowhal]

I thought the current rates for the LPT were good till 2019?

[john m]

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 .

[Rat Catcher]

You're supposed to declare the value and confirm it's accuracy when you make your annual return... bit like self assessment.

[Belker]

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 ?

[john m]

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?

[Shallowhal]

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.

[john m]

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

[Jack Meoff]

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

[Rat Catcher]

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.

[john m]

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 .