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Local Property Tax deadline is fast approaching

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By Ted Healy of DNG TED HEALY

By now everyone will be aware that the Local Property Tax (LPT) return deadline is fast approaching on November 7.

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So this week we give a quick easy to follow guide on the LPT; who is liable, how properties are assessed, what rates apply and how to pay.

Who Pays?

In essence, residential properties suitable for use as a dwelling (occupied or unoccupied) are subject to LPT. Certain properties were and continue to be exempt from the LPT, including properties unoccupied for an extended period by an ill or infirm liable person, or properties affected by pyrite or mica.

Some previous exemptions, such as new or unused properties purchased or built after 2013 or properties in unfinished housing estates, will no longer apply and now fall liable for LPT in 2022 and thereafter.
The owner of the residential property is legally liable for the LPT.

How is it Assessed?

The LPT is a value based tax and uses market values at its core. It is a self assessment tax with the onus on the property owner to value the property. It was first introduced in 2013 with property values set at market values in May of that year.

This year has seen a number of reforms of the system with the valuation bands largely increased and a revaluation date of November 1, 2021. The amount payable in 2021 will apply for the next four years, until 2025.

Revenue have issued a Notice of Estimate to each household which outlines an estimated liability. It is important to note that this is a guide only and liable persons are still required to value their property.

They can do so by using a number of different valuation sources or guides, including Revenue's online interactive valuation guide, the Residential Property Price Register, the use of a professional valuer, local real estate agents, or commercial property sales websites such as daft.ie or myhome.ie.

Once the taxpayer submits the valuation, Revenue’s estimated liability will be replaced by the self-assessed property valuation and the respective LPT charge.

Failure to submit a LPT return or the submission of an undervaluation may be subject to a penalty of €1,000 or a challenge by Revenue. At the same time, Revenue will pursue the estimated LPT liability amount using the available collection and enforcement options.

What is the rate?

The tax rate is set by central Government and was initially 0.18% for properties up to a value of €1m, with a higher rate of 0.25% levied on more valuable properties.

Given the increase in property prices and the inevitable rise in LPT liabilities, the Government has widened the valuation bands and reduced the lower rate (to 0.1029%, with the higher rates of 0.25% and 0.3%).

The following are the new valuation bands:

Local authorities have the power to vary the basic rate up or down by 15% annually. Kerry County Council have levied an additional 7.5% on top of the basic LPT rate.

Who collects the tax?

Revenue will continue to collect the LPT, and offer multiple payment options. These include a single payment using a debit card, credit card, cash or cheque; phased payments/instalments (monthly Direct Debit or via an approved Payment Service Provider such as An Post), or deduction at source (from salary/occupational pension/Government department).

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SURVEY: Locals are reducing their social contacts

It is just over a week since new restrictions were announced by the Government in an another effort to curb the spread of COVID-19. In our latest online poll we asked our readers if they had reduced their social contacts over the course of the last week. An overwhelming 62.90% said they had reduced their […]

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It is just over a week since new restrictions were announced by the Government in an another effort to curb the spread of COVID-19.

In our latest online poll we asked our readers if they had reduced their social contacts over the course of the last week.

An overwhelming 62.90% said they had reduced their level of contacts with people.

Interestingly, 37.10% of people had made no change to their lifestyle, but they could have been extra cautious already.

A tiny minority – just 1.61% – said they increased their social contacts over the last week.

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Staff and students highlight important message

By Michelle Crean Local students went to great efforts on Friday last to highlight a very important message about inclusion. Staff and students in Killarney Community College came together for ‘Stand Up Awareness Week’ as part of a national campaign where second-level schools take a stand against homophobic, biphobic and transphobic bullying. All staff wore […]

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By Michelle Crean

Local students went to great efforts on Friday last to highlight a very important message about inclusion.

Staff and students in Killarney Community College came together for ‘Stand Up Awareness Week’ as part of a national campaign where second-level schools take a stand against homophobic, biphobic and transphobic bullying.

All staff wore a rainbow colour and students wore rainbow coloured accessories to show their support for the campaign as Killarney Community College is a diverse, inclusive, accepting, and welcoming safe space for everyone.

The majority of students made a particularly great effort in terms of wearing rainbow coloured accessories were awarded house points.

During the week, the LGBTI+ flag was hanging proudly in the school canteen. Transition Years decorated the General Purpose area with informative posters, and in SPHE classes, students learned about LGBTI+ terminology and history.

“It’s important that school is a safe and inclusive place for anyone attending regardless of their race, sex, religion or sexuality,” Principal, Stella Loughnane, said.

“I’m delighted that our school community marked the occasion and brought great colour while highlighting a very important message. One of the key words of our mission statement is inclusion making this awareness day a very apt one.”

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