Minster Donohoe announces deferral of revaluation for Local Property Tax

Apr 08, 2019

Local Property Tax (LPT) bills will not change until 2021 as Minister Donohoe has decided to defer the valuation date from 1 November 2019 to 1 November 2020.

Last week, the Department of Finance published its Review of Local Property Tax which considers property price developments on LPT liabilities, the next revaluation date and the frequency of revaluation thereafter.

The Minister for Finance made the following comment on the review:

‘I have indicated consistently that it was my aim to try to ensure stability in the LPT bills of all taxpayers. Increases for taxpayers in LPT, if any, should be modest, affordable and fair. I have also stated that I would make the position regarding LPT bills for 2020 clear in good time so that households would be aware in advance of the November 2019 revaluation date where their 2020 LPT bills would stand. I have decided in the circumstances to defer the revaluation until November 2020 and, in line with the committee’s request, I am referring the review report to the Budgetary Oversight Committee for its consideration’.

Brian Keegan, Director of Public Policy and Taxation at Chartered Accountants Ireland wrote on the need for reform of the LPT system and fundamental change in the Sunday Business Post yesterday.