More charges from the Corpo

[Vikkiz]

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)

[Jack Meoff]

I have a standing order set up to pay the property tax.
They never changed it or notified me of any change.

[Rat Catcher]

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.

[john m]

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 .

[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 ?

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.

[Rat Catcher]

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!

[john m]

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

[Rat Catcher]

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?

[Shallowhal]

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!!

[Belker]

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.

[john m]

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.

[Rat Catcher]

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?

[Belker]

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...

[Shallowhal]

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.

[Shallowhal]

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!!