Daft Property - Irish Property News

Revenue table of local property tax bands at a tax rate of 18% for 2013 and 2014: Revenue is to send homeowners an estimated value of their home and property tax due, in letters to be issued in the coming weeks. The local property tax payable on the market value of a property is to come into force from July and will be administered by Revenue. Revenue will write to residential property owners in March including notification of an estimated amount of local property tax, a booklet on the operation of the tax, valuation procedures and payment methods and a form for completion. The completed forms with a self-assessment of property value will have to be sent back to Revenue by May 7th on paper or May 28th electronically. The return will be valid until 2016 unless circumstances change. If Revenue believes the amount of property value declared does not reflect the market value, it may question the declaration. If people refuse to pay or do not send back the form the tax

Next big hot potato is property tax of up to €1,000... There's little hope of a property tax being fair and equitable on the already squeezed middle classes, says Daniel McConnell. Can you afford to pay €1,000 a year in a property tax? Well, according to the man charged with designing such a tax, that is what we will, on average, all pay once it is introduced. Don Thornhill, a career civil servant who describes himself now as a consultant "who advises on strategy and policy to a number of leading Irish organisations" has recently presented his report to Minister Phil Hogan recommending how such a property tax should work. Politically toxic and highly unpopular, the lack of enthusiasm of either Fine Gael or Labour to discuss the matter is a clear sign of the trepidation that surrounds the idea of lumping the extra burden on the shoulders of the Irish taxpayer, but in particular the "squeezed middle classes". Phil Hogan's department is saying nothing othe