Tax Policy & Research

21 February 2013

Bulletin 2 in Property Tax Series

Revenue Chairman Discusses Property Tax at Public Accounts Committee

Revenue Chairman Josephine Feehily appeared before the Public Accounts Committee today.  Part of the discussion with the Committee related to the Property Tax, and the following updates were provided:

  • We are likely to see the Revenue publicity campaign on the Property Tax launching in the first week of March.  Information will be provided through various channels including national and local radio, print media and online media. 
  • Revenue will issue letters to property owners over a 4-week period beginning in the week commencing 11 March.  They will include the Revenue Guidelines and the Revenue Estimate of the Property Tax liability in respect of the property.
  • The Chairman confirmed that the valuation guidelines which will go live in March will take the form of an interactive tool that will be available on their website.
  • Revenue are currently developing guidelines on the application of the “excessive financial hardship” provisions in the Finance (Local Property Tax) (Amendment) Bill 2013.  Taxpayers will likely be required to provide detailed information in order to avail of this provision.
  • Revenue will also develop guidelines on the implications of the Property Tax for the conveyancing of property.
  • The Chairman emphasised that the Property Tax is a self-assessed tax, and that the onus is on taxpayers to value their own property.

The Institute will be issuing further bulletins to members on important aspects of the Property Tax in the coming weeks.

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