property tax valuations

mondymike

can anybody explain to me why my house in warrenstown and the surrounding blanchardstown heath houses are valued at 750 to 800k each? on both the map and the fingal valuation guide

Morag

Because some bright spark has valued the houses based on how close you are to certain facilities, which has no relation what so ever to the real or market value.

Larbre34

A big old error. A glance at the rest of the table of valuations shows the anomoly that it is. Email Revenue about it

bothyhead

For those interested .. I got the LPT letter this morning and from what I can make out, they estimate that we're in the 150 - 200K bracket:

Notice of Estimate of Local Property Tax payable under Section 47 of the Finance (Local Property Tax) Act 2012 (as amended) for Property ID xxxxxx

Period
1 July 2013 - 21 Dec 2013 € 157.00

According to the interactive map on the website, we should be in the 100 - 150K bracket (€112 for the half year).

To be honest, I'd say that the estimate in the letter is more realistic than what is shown online.

dickwod1

The online map is only a guide (pointless really) and the letter is what the revenue are going by

Go onto daft.ie they have a LPT calculator with a more accurate estimate and if its in your favor you can print it off and send it back with your valuation of the property

I also went onto propertypriceregister.ie and entered in my area and seen what houses actually sold for for that last few years and including this year - I'm also printing that out and sending it back with my valuation

fletch

dickwod1 wrote: »

I also went onto propertypriceregister.ie

Interesting....I bought my house new from a developer in 2010 but I notice the price they declared that the house sold for is actually €30k less than what I paid....why would this be the case?

dickwod1

fletch wrote: »

Interesting....I bought my house new from a developer in 2010 but I notice the price they declared that the house sold for is actually €30k less than what I paid....why would this be the case?

Well they should't have its supposed to be a register/data base of actual sale prices

(If your 100% sure the address/house is yours I'd get on to someone about it)

fletch

dickwod1 wrote: »

Well they should't have its supposed to be a register/data base of actual sale prices

(If your 100% sure the address/house is yours I'd get on to someone about it)

Yep 100% sure it's my address...and the dates match up. I've emailed the PRSA to see if there is an explanation.

dickwod1

fletch wrote: »

Yep 100% sure it's my address...and the dates match up. I've emailed the PRSA to see if there is an explanation.

Let us know what the result is please

fletch

dickwod1 wrote: »

Let us know what the result is please

Will do

Past30Now

fletch wrote: »

Interesting....I bought my house new from a developer in 2010 but I notice the price they declared that the house sold for is actually €30k less than what I paid....why would this be the case?

Its probably the VAT on the sale of a new property. VAT is chargeable at 13.5%, so if you paid €300K, then the VAT would equate to €35.7K.

fletch

Past30Now wrote: »

Its probably the VAT on the sale of a new property. VAT is chargeable at 13.5%, so if you paid €300K, then the VAT would equate to €35.7K.

That must be it as the discrepancy is exactly 13.5%...I wasn't sure what the rate was.

It should be made clearer on that site.

Turbulent Bill

fletch wrote: »

That must be it as the discrepancy is exactly 13.5%...I wasn't sure what the rate was.

It should be made clearer on that site.

I think there's an asterisk, column note or some other indication on the property price register to denote new homes, where the actual price paid is 13.5% extra. Check the guidance notes on the PRSA website.

fletch

When I click into the details for my house it does say "VAT Exclusive: Yes". I've checked some second hand homes and it says No to this. Its still confusing. They should just list the retail price at the top level to avoid confusion.

fletch

dickwod1 wrote: »

Let us know what the result is please

Yeh as we expected, the price didn't include VAT

Dear X

The Register is compiled from data which is filed, for stamp duty purposes,
with the Revenue Commissioners. The data is primarily filed electronically
by persons doing the conveyancing of the property on behalf of the
purchaser and errors may occur when the data is being filed. There can be
items, such as fixtures and fitting or additional land, which are excluded
from the Stamp Duty declaration and the reduced value (exclusive of
attributed value of these items) is what Revenue received. Before I report
the potential error to the Revenue Commissioners, please confirm that there
were not items included in the transaction which were, properly, not
declared for Stamp Duty which would explain the difference.

Where a property is recorded as a "New Dwelling house/Apartment" and the
price shown as being VAT exclusive. The applicable VAT rate is 13.5% which
explains the difference in your figure and that on the register.

Regards

Hilly Bill

They have valued a house bang in the middle of council estate at €150k - €200k . Try selling it at that price and you will get laughed at. The council themselves valued it at under €100 k plus an independant valuer.

Why is the jump from Band 1 to band 2 €135 when the it €90 between the others on the full year charge.?

SBWife

Hilly Bill wrote: »

Why is the jump from Band 1 to band 2 €135 when the it €90 between the others on the full year charge.?

Tax is based on the midpoint of the band, Band 1 is larger than the others it covers 100k the others just 50k therefore the jump from the midpoint of Band 1 to the midpoint of Band 2 is 75k but from the midpoint of Band 2 to that of Band 3 just 50k. Hence the jump in tax is greater.