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High Stamp or Rates

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  • 15-01-2007 8:56pm
    #1
    Zambia
    Closed Accounts Posts: 7,333 ✭✭✭


    We have all had our various opinions on Irish stamp duty

    Listed below
    FTB Other
    €127,001 - €190,500 0% 3%
    €190,501 - €254,000 0% 4%
    €254,001 - €317,500 0% 5%
    €317,501 - €381,000 3% 6%
    €381,001 - €635,000 6% 7.5%
    Over €635,000 9% 9%

    However in the UK its decidly better

    Up to £120,000 - nil
    £120,001 to £250,000 - 1%
    £250,001 to £500,000 - 3%
    More than £500,000 - 4%

    Now obivously the size of the house is a factor in Irish stamp however most houses larger than a stamp, incur stamp.

    However in northern ireland in Aprill of 2007 new rates are being introduced rates being a monthly Fee on your house.

    That used to be calculated on the rental income of your property 30 years ago. However it is now being brought into line, and will now be calculated on the Capital value of your property in January 2005.

    So in essence you could be charged about €1000 a year for an average dwelling. But should you improve your house between january 2005 and january 2010. Your rates will go up as all rates are calculated, as a standard house. Should you build an extension your rates go up next valuation cycle.

    This is only happening in Northern Ireland at present not the UK in total.

    My question is this would you rather pay the Irish riduculous stamp fees or the slower rates forever N.Ireland model?

    I would suggest anyone thinking of investing in northern ireland property read the below as well.

    Norn Iron folk can look up there house using this Valuation tool

    http://pip.vla.nics.gov.uk/search.asp?submit=form

    and their subsequent rates after April using this tool.

    http://pip.vla.nics.gov.uk/ratesCalculator.asp

    As an example estimated rates for this house

    http://www.propertynews.com/brochure.php?r=1&c=564&s=11843748&i=181&p=ECHECH6007

    If located in the Down county council are £955 a year.


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