Revenue has issued a press release to remind residential property owners about their Vacant Homes Tax (VHT) and Local Property Tax (LPT) obligations. Readers are reminded that tomorrow, Tuesday 7 November 2023, is the return filing date for the VHT. Property owners are also reminded that, where a residential property was newly built or has become occupied or suitable for use as a dwelling between 2 November 2022 and 1 November 2023, it is liable for LPT in 2024.
The VHT is due on residential properties that are liable to LPT and are occupied for less than 30 days in the year ending 1 November 2023. Further information is available on the Revenue website.
VHT returns can be submitted via Revenue’s myAccount, ROS or the LPT Portal. The system will guide property owners through the three-step process to review their details, submit their return and make a payment if necessary.
Revenue is writing to 800,000 property owners to remind them to set up their LPT payment option for 2024. The LPT on a residential property for 2024 is based on the valuation of the property at 1 November 2021.
Where a residential property has been newly built, or it has been refurbished and has become occupied, or suitable for use as a dwelling, between 02 November 2022 and 01 November 2023, the property is newly liable for LPT in 2024 as of 1 November 2023. A taxpayer who owns a property which is newly liable for LPT is required to value their property as at 1 November 2021. Guidance on conducting this valuation is accessible here with further information on LPT available on Revenue’s dedicated LPT webpage.
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