Is your property tax estimate accurate?

Is your property tax estimate accurate?

By now most people will have received letters from the Revenue Commissioners detailing what they are expected to pay towards the new property tax.

Of course, these letters are just estimates and people have the right to lower or higher the valuation of their home to meet its current market value.

This has caused a great stress for many homeowners though, with estate agents around the country reporting that they have been inundated with calls from people looking for valuations.

Some have even come up with special rates to call out to your home and give you a valuation.

If you’d like to get an idea of what your home is worth then why not check out our Property Tax Calculator, which takes into account average asking prices and sold prices from the last few years to give you a more accurate indication of your home’s value than what the Revenue might have provided you with.

Of course, no matter what your home is valued at, there will be those who feel this is an unjust and unfair tax.

Since the letters first started to be sent out last month, opposition to the new property tax has grown with a series of protests around the country. Indeed, as recently as yesterday the Teachers’ Union of Ireland (TUI) voted overwhelmingly to oppose and campaign against the tax.

Those taking that stance should be warned, however, that if they fail to reply to the Revenue by the May deadline then they will be left with the valuation that has been provided to them for the next three years.

This means that if the Revenue then take the tax from peoples’ wages then they may end up paying above what their house is actually worth.

Of course, this whole process has not been without its problems with young children receiving letters in error, tenants receiving letters in error and even homeowners receiving multiple properties for the one property.

The fact remains though that the tax is nearly here and no matter what your thoughts are on it, you’ll have to decide what to do pretty soon.

With that in mind we’d like to know your opinion on the new tax.

  • Was the estimate you received higher or lower than you expected?
  • Will you be paying the property tax?
  • Has the whole process confused you or your friends?
  • Will the full tax next year, along with the reported introduction of water charges, push you over the edge?

Have your say in the comments section below.

There are 18 comments for this article
  1. owen at 9:45 pm

    If no letter from revenue arrives before May, what is your position.. You cant dispute or accept something that does not exist. What does one do ??

  2. Declan at 7:17 pm

    What if you don’t agree with the estimate given in the letter by revenue, do you have to appeal it in order to be able to proceed with submitting a lower one? Or are you appeal to submit a lower property tax to revenue and just have the back up information/data if revenue do decide to audit/review your lower submission?

  3. Tracey at 4:36 pm

    I live in a 2 bed apartment in Swords. Bought for 247k in 2006, one now up for sale for 130k but not selling. Last similiar apartment in the estate sold on the register for 96k.
    I got my valuation in the post for Bank 9 – 450-500k????
    The same apartment below be valued at 150-200k?
    A difference of 350K??

    Their logic is beyond me

  4. damiangibney at 3:45 pm

    dear sir or mad this so called property tax is illegal yesterday in mayo district court we returned back to the district court,along with lots of people that are members of attack the tax,,the judge refused to handle the matter so she put it back until may ,the state will not win this case because what they are doing is unlawful and illegal so don t pay this tax its as simple as that.if you want to become a shareholder in this case join us ,this will make you immune from prosecution until the state deal with the case , i hope that this short note may prove useful to you,if you need to contact me on this matter please do so on my e mail thank you .

  5. Ann McCarthy at 3:32 pm

    I meant to say they will charge us for the air that we breath apologies

  6. Ann McCarthy at 3:32 pm

    I feel this tax is very unfair imagine did we ever think we would see the day we would have to pay a tax to live in the luxury of our own home. I wouldn’t mind if it was going for local services which the Government keep telling us do they think we are stupid or came down in the last shower. The state of our roads are shocking and we are paying more road tax all thanks to Sean Quinn, I think we should have a revolution in this country we just taking everything lying down its nothing but taxes, taxes, water charges the next think we will know they will charge us to breath .

  7. Andy at 2:42 pm

    Hi,

    I haven’t received anything from revenue yet no doubt I will in time.

    Appears our Govt. has resorted to the E.U. / Troike tactics of threaten the people enough and they will conform.

    How little information we see in the media about the theft by Govt. of 40% of the deposit balance in Cyprus, appears our Govt. are following the same path they will do it because they can.

    An interesting post by Mr. Dermot Kearns (above) as it happens my home is nowhere near compliance with the old or new regulations and has in fact been damaged by the County Council who claim they don’t have the funds to repair the damage.

    We have overpaid Councillors (many are shocked when I tell them Councillors are paid) Local Authority Management who refuse to manage, Building Control Departments in each council who don’t do their jobs.

    I have told my children (adults) that when I die there may be a tax bill outstanding on their inheritance should they wish to claim it, if not they can demolish the house with my blessing.

    No Government should feel they have the power to take over peoples homes retrospectively.

    I actually agree with the concept of property rates but only when there is value offered to the property owners and that the owners have the opportunity to establish if they can afford to pay the rates on that particular property before they buy it.

    Sorry Enda & Co. don’t estimate your budgetary income based on this property because I will not pay it.

    I don’t have a PAYE job and I am willing to stop working tomorrow as I’m lucky enough to have my pension from an offshore source (all legal) but untouchable unless I draw down too much to put me in another TAX bracket.

    That is how strongly I feel about the tactics and methods being used by this Government.

  8. Patrick at 1:49 pm

    Whether we like it or not,agree or disagree with the concept, it is without doubt going to be a nightmare not only for administration but also for the tax payers too.
    To ask if we believe we have had a correct assessment is most difficult for anyone to put a handle on it. How in the present climate with more and more people losing their jobs and either emigrating or going on job seekers or whatever.
    How with the best will in the world can anyone including revenue tell me what my property is worth, when there is no one to make an offer on it let alone buy it.
    We see clearly the downward trend, the gloomy forecasts,no change in the jobless in sight for years to come. So again tell me what is the true dare I say it MARKET value of my house.
    It is truly sad that our hitherto honorable administrators,past and present, irrespective of political persuasion have led our country to the precipice.Government for the People by the People. Who said that and what does it mean.
    I guess the tail is wagging the proverbial.

  9. Dermot Kearns at 1:06 pm

    Sent to a number of Minister awaiting a solid reply.
    Reply’s to date: We will pass it on to the relevant department.
    I have 7 such reply’s over the last 6 months or so. My opinion no one in government cares they just want your money.

    Dear Minister ——-
    There are a number of issues I would like some help in clearing up
    Fire Stopping or the lack off in domestic dwellings in Ireland I believe is a ticking time bomb, the more homes I visit the worse the situation gets.
    I am writing a full scale report on the quality and in many cases the non existence of fire stopping insulation materials in properties sold to Irish families during the period 1998 and 2010 and would like to identify what consumer protection is in place if any to rectify these issues.
    Could I please have your answers and comments in relation to my questions listed below.
    1 If a family bought a property from a developer who was directed by the laws of this state to build your home in compliance with the current building regulations at the time of construction, is the government responsible in enforcing these laws.
    2. Where you find out after the sale of the property there are major discrepancy’s in relation to the thermal insulation, acoustic insulation and the Fire stopping/fire safety of your property does any responsibility lie with the government for failing to enforce this law.
    3. If you receive an answer from government that the builder/developer provided self assessment certificates stating compliance with the building regulations at the time and subsequently you find out there was no fire stopping in place in your home has the builder/developer broken the law.
    4. If the law was broken are you within your rights as a citizen to be paid compensation to rectify any issues relating to Fire-stopping in your home to ensure the safety of your family and neighbors.
    5. Where there is no Fire-stopping in place in your home and you are aware of this fact can you legally sell your property without disclosing this information.
    6. Where you are aware of this serious defect [no fire stopping] in your home can you actually put a value on it to calculate the property tax due.
    7. It is my understanding If your home does not have the required fire stopping in place the property cannot be sold therefore placing a value on the property @ €0000
    Property tax due €0000
    8. It is also my understanding that where there is no fire stopping in place between terraced and semidetached homes the property insurance may be cancelled if the insurer was notified of these facts.
    9. Where it is determined the home owner was sold a property not to be in compliance with the building regulations of the day is the homeowner entitled to claim a full refund for the cost of the property and also the tax paid to the state.
    It is my opinion the sale of the property would have been illegal and unsafe.
    There are tens of thousands of homes built during the period 1998 and 2008 that do not comply with the building regulations relating to thermal, acoustic and fire stopping.
    As you are fully aware these properties will continue to remain unsafe until such time retro fit works are carried out to remedy the problems
    The figure may be as high as 800,000 homes

    There are solutions to these problems and also ways of ensuring this sort of building practice does not continue within our construction industry going forward

    Looking forward to hearing from you
    Dermot Kearns
    Independent Insulation Advisor
    087-0526909

  10. Paul at 11:49 am

    Does the owner need to declare the value of the house each year, to keep in line with any market flucuations?

    • jamesrogers at 11:52 am

      No Paul, the valuation this year will be correct until 2016 regardless of whether the market goes up or down next year or the year after

  11. Scottie at 11:47 am

    I live in an estate where all the houses are the same. My neighbours Property Tax came in in lower bracket……..I just don’t understand it.

  12. Paddy at 11:26 am

    Valuation about right, no confusion, will pay the tax and help bail out house purchasers who bought more than they could afford and now expect the taxpayer to pick up the tab, as well as the greedy property developers and their unspeakable bankers friends.

    As for water charges, we should have been paying for water years ago, but there should be some form of sanction on water wasting by the operators of the pipelines.

    Must go now, I’m off to the pub to meet the brother in law, admire his new car, and if past experience is repeated, listen to him complain about his €500 property tax bill over an expensive lunch.

    Paying debts, death and taxes………………the things you can’t avoid, unless US bankruptcy is a possibility!

  13. DH at 11:23 am

    I have my house for sale for 100K, I have had offers of 70-75K so I consider myself to be category 1, the revenue consider me to be category 2. I know which one I would rather pay..

  14. Frank at 11:22 am

    Still have not received anything from the revenue. Now facing the ignominious task of being forced to call the revenue to tell them to send us a bill that we can’t pay.

  15. Colm at 11:19 am

    My neighbour had his house on the market and the asking price is in what seems to be a fair valuation if we base it on the much publicised 50% fall from the peak you often hear from the media. And finally when I look at the property price register for the last 3 years no house has sold in our village for more than that bracket since 2010. So I was satisfied with that.

    Then the Revenue launched their website and the valuation was in that bracket I had expected. I was even more content that it would be straight forward to get a valuation.

    But then the actual letter from Revenue put it in a bracket BELOW what I expected. That confused me.

    So I checked the my-home.ie tool and it put me one bracket ABOVE what I expected. That confused me more.

    So I tried the daft.ie tool and it put me TWO brackets ABOVE what I expected. That totally confused me.

    Our residents committee got an estate agent (brother of one of the committee) to give a valuation and he recommended one bracket BELOW what I had expected. Now I’m baboozled.

    So I’m back to my initial gut feeling on the valuation but will keep an overnight bag packed incase I have to make a Revenue arrive to drag me off to mountjoy for undervaluing my house or my neighbours arrive in an angry mob for overvaluing my house. 🙂

  16. joe malone at 11:08 am

    3 years ogo I paid 37,500 stamp duty on my last house.in an arwa where there are 2co.councillors who get 60,000 a year in expenses but dont even hold clinics!!!!Last year I paid the 129.00as I was selling my house.My new house is not taken in charge by the council…They can go to hell!!

  17. Siobhan Delaney at 11:00 am

    My property tax was €37,000 over its value, only bought the house 12 months ago.

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