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Property Tax liability for 2014

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  • 25-11-2013 2:24pm
    #1
    MonkeyWrench
    Registered Users Posts: 385 ✭✭


    We are due to close on a house sale in the next few days. The vendor has paid the property tax for 2013 and they have signed up to pay single debit authority for the property tax in march 2014 as they are liable.

    We are exempt from paying property tax until end of 2016 as first time buyers during 2013. Our issue lies in the fact that the law society states that vendors have to pay up in full the property tax for 2014 before the house is sold. I spoke with revenue and there is a conflict of information here in that they say the vendor only needs to pay for 2013 and it is enough that they have setup the single debit authority for 2014.

    Does anyone have experience of this over the last few weeks and what the outcome was? This lpt revenue debacle is causing a lot of confusion! My concern here is that they vendor will just change the single debit authority before march and then the debt will lie with us (the new owners) even though we are exempt...


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    #2
    ligertigon
    Closed Accounts Posts: 556 ✭✭✭ligertigon


    I was due to get my keys last friday, wonder if this is the hold up with my purchase, stressful time!

    Hope someone answers soon


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    #3
    Plek Trum
    Registered Users Posts: 1,075 ✭✭✭Plek Trum


    In very similar position - we were meant to sign contracts last week. From my solicitors information, whomever is the registered owner of the property on 1st November 2013 is liable for the tax on that house for 2014 - regardless of whether they own it then or not!

    I wouldn't blame our vendors for contesting it, I would hate it if it was the other way around. How can you charge somebody tax on something they don't own?? Don't ask me how it even makes sense legally, I cannot fathom how it would stand if legally challenged.

    Its delaying our purchase , others too I'm sure !


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    #4
    MonkeyWrench
    Registered Users Posts: 385 ✭✭MonkeyWrench


    Plek Trum wrote: »
    In very similar position - we were meant to sign contracts last week. From my solicitors information, whomever is the registered owner of the property on 1st November 2013 is liable for the tax on that house for 2014 - regardless of whether they own it then or not!

    I wouldn't blame our vendors for contesting it, I would hate it if it was the other way around. How can you charge somebody tax on something they don't own?? Don't ask me how it even makes sense legally, I cannot fathom how it would stand if legally challenged.

    Its delaying our purchase , others too I'm sure !

    Yes it is a total mess and i'm sure there are many others in the same boat. Revenue have told us one thing and then the solicitors are trying to cover themselves by following the law society recommendation on this.


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    #5
    alibab
    Registered Users Posts: 678 ✭✭✭alibab


    I just paid it in full today for 2014 . It galled me to do so as i will no longer own this house in 2 weeks time . In order for the sale to go ahead i had to pay it . The buyer is exempt for 3 years . Does not seem fair to me at all.


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    #6
    ligertigon
    Closed Accounts Posts: 556 ✭✭✭ligertigon


    alibab wrote: »
    I just paid it in full today for 2014 . It galled me to do so as i will no longer own this house in 2 weeks time . In order for the sale to go ahead i had to pay it . The buyer is exempt for 3 years . Does not seem fair to me at all.

    Sorry to hear that, as a buyer eligible for exemption on the 2014 fee, I wonder could the buyer ask the revenue for a refund for you?


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