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Property tax question

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  • 09-04-2013 2:02pm
    #1
    Mystified
    Registered Users Posts: 92 ✭✭


    The Revenue Commissioners have assessed my property tax as €247 for a half year placing my house in the Property Value Band number 05, that is, mid point valuation €275,000. Does this figure include VAT?

    On the Property Sales Register most 2nd hand house are quoted with VAT included (VAT Exclusive - No) whereas new houses are quoted VAT free. What is the VAT rate for house sales?
    Tagged:


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    #2
    ted1
    Registered Users Posts: 23,491 ✭✭✭✭ted1


    ASFAIL Vat is only on new builds,


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    #3
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    The local property tax is a tax. VAT is another tax. Were the government to charge VAT on the LPT- it would be a double taxation- a tax on a tax........


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    #4
    StillWaters
    Closed Accounts Posts: 1,799 ✭✭✭StillWaters


    smccarrick wrote: »
    The local property tax is a tax. VAT is another tax. Were the government to charge VAT on the LPT- it would be a double taxation- a tax on a tax........

    I think Mystified is asking whether Revenue have added VAT to the value of his house. The answer to that is no also. There is only VAT on new builds.


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    #5
    the groutch
    Closed Accounts Posts: 16,096 ✭✭✭✭the groutch


    if I bought from new, could I use the ex-vat price of the property to show what band I should be in, or would it be the inc-vat price?
    (note it's the ex-vat price showing on the new property register)


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    #6
    djmcr
    Closed Accounts Posts: 237 ✭✭djmcr


    Mystified wrote: »
    What is the VAT rate for house sales?


    If the property is a new property, the price shown is exclusive of VAT at 13.5% - taken from property price register website


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    #7
    Bigcheeze
    Closed Accounts Posts: 2,858 ✭✭✭Bigcheeze


    the groutch wrote: »
    if I bought from new, could I use the ex-vat price of the property to show what band I should be in, or would it be the inc-vat price?
    (note it's the ex-vat price showing on the new property register)

    You would use the inc-vat price as backup because if you were to sell you would expect to sell for the price you paid.


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    #8
    murphaph
    Registered Users Posts: 19,019 ✭✭✭✭murphaph


    smccarrick wrote: »
    The local property tax is a tax. VAT is another tax. Were the government to charge VAT on the LPT- it would be a double taxation- a tax on a tax........
    Doesn't stop them charging vat on excise duty every time you buy petrol. :'(


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    #9
    Mystified
    Registered Users Posts: 92 ✭✭Mystified


    I think I'm clear on that now. Thanks to all who answered.The column headings on the property register files are very confusing. e.g. Not full market price. the answer no means you end up with a double negative. Also the heading VAT Exclusive - answers yes or no - again difficult to interpret. Why not have heading VAT with answers Paid/Not Paid. I suspect its all designed to confuse Seán Citizen!


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