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Property values website to go live

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    #62
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    MYOB wrote: »
    Which is in itself an arbitrary date to have picked.

    There were amendments to several building regulations and at least three SI's in 2000- so its not entirely arbitrary......


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    #63
    podgeandrodge
    Registered Users Posts: 5,831 ✭✭✭podgeandrodge


    deandean wrote: »
    What a useless load of crap!

    It's completely wrong to just paint large swathes of a town or an area with the same brush. That's not how a property is valued.

    How much did this exercise cost revenue? A couple of million or more i'd say. It is money down the drain. Whoever thought up this concept should be pilloried and fired.

    (RSI number withheld)
    BailMeOut wrote: »
    The values are just guides and you self evaluate the value of your own home.

    I think the point being made is that it isin't a guide at all - it is so generic and averaged that it fulfils no purpose at all! (At least in Dublin).
    Waste of time and effort. And money.


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    #64
    Not
    Closed Accounts Posts: 626 ✭✭✭Not


    LOL (that's a delayed reaction following My God!!!:eek::eek:)

    Last property to sell around here sold for just over a quarter of it's revenue valuation. Has anyone told revenue about the property crash ? Seriously..... ?


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    #65
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    I live in a Dub estate(all identical semi-d's) that has been valued by Electoral District as being in the 200,001-250,000 bracket yet the property price register states recent sales of houses have been sub-200k(actually 180k for most)

    Wtf, where are they getting their info from?


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    #66
    Infoanon
    Registered Users Posts: 4,658 ✭✭✭Infoanon


    They have valued all the houses in my estate and surrounding areas in the one band - thats a mix of 3/4/5/6 bedroomed , 2/3 storey......

    Considering that 3 similar houses to mine have sold in the last year thus providing a very realistic price basis they still managed to over value the properties (though you will have a different view if you are in the 5 bedroom house !).


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    #67
    Miss Lockhart
    Closed Accounts Posts: 2,639 ✭✭✭Miss Lockhart


    Is end of terrace still in the terrace category or is it considered a semi-d?


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    #68
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    Miss Lockhart wrote: »
    Is end of terrace still in the terrace category or is it considered a semi-d?

    Terrace.


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    #69
    Miss Lockhart
    Closed Accounts Posts: 2,639 ✭✭✭Miss Lockhart


    Also, what's so special about bungalows? My friend's 2 bed council bugalow is in band 4 while my aunt's 5 bed semi-detached house in a much more affluent estate (but in the same area) is in band 3?

    This guide is too useless to serve any purpose.


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    #70
    Chatterboxmoira
    Registered Users Posts: 33 ✭Chatterboxmoira


    Just checked out the property values guidance on revenue.ie. According to that, my hundred year old stone cottage is valued as the same as the massive 5 year old house next door.
    I'm not accepting that valuation. How the hell did they come up with this. The only criteria requested was type of property (detached, semi, terraced) and built before or after 2000.
    Absolutely pathetic.


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    #71
    StillWaters
    Closed Accounts Posts: 1,799 ✭✭✭StillWaters


    It's guidance, and just one part of a suite of products to guide you. It is self assessed so clearly you can pay based on your own valuation providing you can provide sufficient proof that your valuation is valid should it be requested from you.


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    #72
    donegal_man
    Registered Users Posts: 5,781 ✭✭✭donegal_man


    The values this throws up are beyond ridiculous. I'm in band two (€100,000 - €150,000) the last house sold in the neighbourhood went at just over €20,000 for pity's sake :confused:


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    #73
    NIMAN
    Registered Users Posts: 33,618 ✭✭✭✭NIMAN


    You have the option of saying yours is worth €20k too, its self assessed. The website is a guide to what houses are worth.


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    #74
    leanonme
    Registered Users Posts: 236 ✭✭leanonme


    donegal_man wrote: »
    The values this throws up are beyond ridiculous. I'm in band two (€100,000 - €150,000) the last house sold in the neighbourhood went at just over €20,000 for pity's sake :confused:

    What price do you have your house insured for, that will tell you what value you put on your house.


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    #75
    donegal_man
    Registered Users Posts: 5,781 ✭✭✭donegal_man


    NIMAN wrote: »
    You have the option of saying yours is worth €20k too, its self assessed. The website is a guide to what houses are worth.

    Yeah I know, it's just the values it's showing are meaningless which makes it pretty much useless as a guide.


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    #76
    Bullseye1
    Closed Accounts Posts: 5,731 ✭✭✭Bullseye1


    Not wrote: »
    LOL (that's a delayed reaction following My God!!!:eek::eek:)

    Last property to sell around here sold for just over a quarter of it's revenue valuation. Has anyone told revenue about the property crash ? Seriously..... ?

    One can only assume they are in league with Nama and the banks in attempt to keep values inflated.


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    #77
    Bullseye1
    Closed Accounts Posts: 5,731 ✭✭✭Bullseye1


    For clarification if your property is worth €175,000 do you muliply this figure by 0.18%? Or do you take the figure for property between €150,000-€200,000?


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    #78
    donegal_man
    Registered Users Posts: 5,781 ✭✭✭donegal_man


    leanonme wrote: »
    What price do you have your house insured for, that will tell you what value you put on your house.

    Nothing, since you ask. I'm renting from a friend who is in Australia. However we have agreed since I'm paying very little rent that I'll pay the property tax.
    I also think this is an invalid argument since the tax is based on the notional market value.


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    #79
    leanonme
    Registered Users Posts: 236 ✭✭leanonme


    donegal_man wrote: »
    Nothing, since you ask. I'm renting from a friend who is in Australia. However we have agreed since I'm paying very little rent that I'll pay the property tax.
    I also think this is an invalid argument since the tax is based on the notional market value.

    But your landlord is the owner of the property, so it is up to him to value the house, and register the value he asses it at. As per your agreement that's up to you.

    I don't think its an invalid argument. The tax is self assessed, the revenue are just providing guidelines, but have stipulated that you need to adjust the figures up or down depending on the house size, up keep, etc. So one way of self assessment for most people is to look at the value of the property through insurance. This will show the value people put on their house them selves.


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    #80
    NIMAN
    Registered Users Posts: 33,618 ✭✭✭✭NIMAN


    But when insuring your house you have to, at a bare minimum, cover the cost of rebuilding it.

    Someone may only get 50k if they sold their house, but it may take 75k to rebuild it if it burnt down. So is the value 50k or 75k, really?


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    #81
    Bullseye1
    Closed Accounts Posts: 5,731 ✭✭✭Bullseye1


    It's the sale value not the rebuild value.


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    #82
    donegal_man
    Registered Users Posts: 5,781 ✭✭✭donegal_man


    Who insures their house based on the market or perceived market value? Most insurers recommend that you insure for rebuild plus clearance so at the moment the price of clearing and rebuilding may well be higher than the market price of the property.

    NIMAN posted pretty much this. I had started this reply then got distracted by kitten who has adopted me :o


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    #83
    StillWaters
    Closed Accounts Posts: 1,799 ✭✭✭StillWaters


    donegal_man wrote: »
    The values this throws up are beyond ridiculous. I'm in band two (€100,000 - €150,000) the last house sold in the neighbourhood went at just over €20,000 for pity's sake :confused:
    You would have a good case for self assessment in the lowest band so. Whilst €20k is an anomalous figure, you could argue, validly I would think, for a valuation in the sub €100k band.


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    #84
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    Bullseye1 wrote: »
    One can only assume they are in league with Nama and the banks in attempt to keep values inflated.

    It works the other way too. There are areas with startling under-valuations there too. The sodding thing is meaningless.


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    #85
    oldyouth
    Closed Accounts Posts: 4,754 ✭✭✭oldyouth


    leanonme wrote: »
    What price do you have your house insured for, that will tell you what value you put on your house.

    Please don't use this as a basis to value your house. Insurance is only concerned with the re-build and associated costs. Market value is totally different, as other posters have indicated


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    #86
    How Strange
    Registered Users Posts: 6,339 ✭✭✭How Strange


    Our apartment in the apparently affluent Cherry Orchard (D10) is valued between €100-150k. The last apartment to sell here and we're not sure if it's like for like was €86k in mid 2012. Houses in Cherry Orchard have sold for €20-55k.


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    #87
    Fiona
    Registered Users Posts: 2,356 ✭✭✭Fiona


    I have a 1 bed apartment in Ashbourne and according to the revenue website it is in Band 2 valued between €100,000 - 150,000, the midpoint valuation is €125,000

    I have done some research and the properties that have sold within the last year have been averaging between €70,000 - €85,000

    With that in mind I feel I should be in band 1 - €0 - 100,000. However, the midpoint for that band for calculating how much tax you pay is €50,000.

    Would that mean that I am undervaluing my apartment or would it be safe for me to use say €80,000 as my value point, ie - €80,000 x 0.18% = €144 pa?

    I don't want to over pay but then again I don't want to be accused of underpaying, all the revenue states is that people are honest in their valuations :confused:


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    #88
    monkeypants
    Closed Accounts Posts: 2,386 ✭✭✭monkeypants


    Why is everything in shades of bleedin' orange. I'm giving myself a headache looking at the damned thing. Will get the missus to do it.


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    #89
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    monkeypants wrote: »
    Why is everything in shades of bleedin' orange. I'm giving myself a headache looking at the damned thing. Will get the missus to do it.

    You can change the intensity of the orange :D


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    #90
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    If houses have been selling in between 70 - 85k Id use 85k min as my evaluation to be honest.

    But it would appear they have put you in the wrong band, like many other people.


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    #91
    _Kaiser_
    Registered Users Posts: 28,861 ✭✭✭✭_Kaiser_


    And this is the problem with this whole system. How do you value property in a stagnant / falling market (depending on where it is)??

    In fact, it seems Revenue themselves have it wrong from the start - story here this morning


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