Have your say on Local Property Tax

Apr 30, 2018

A working group chaired by the Department of Finance is reviewing the impact on Local Property Tax (LPT) liabilities in the context of property price developments in advance of the revaluation date on 1 November 2019.  As part of this review, interested parties are invited to submit their ideas and suggestions on the review process in relation to the LPT to the Department no later than 10 May 2018.

This consultation was initially promised by the department in January as per our report in Chartered Accountants Tax eNews.  The Department’s consultation document tells us that the working group is interested in views on the future of the LPT having particular regard to:

  • Providing a basis for future review as property values vary over time
  • The relationship between property price movements and tax liability
  • Mechanisms for ensuring relative revenue stability and providing a level of certainty in terms of liability for 2020 and beyond
  • The considerations around continuing to operate the current range of LPT exemptions and deferral options
  • The outstanding recommendations of the 2015 Thornhill review of the LPT

According to the Department’s statement on the consultation it is intended that the review group’s report will be presented to the Minister for Finance in summer 2018.