Local Property Tax is based on property value and helps to fund your local council. This value is self-declared and most people usually judge it based on the latest sale price of the property or similar properties nearby.
Therefore the LPT valuation for the next year should be based on the price the property sells for.
If you purchase the property during the year, you would need to refund the current owner pro-rata for a tax they have paid. Your solicitor will look after this during the sale agreed process and will take care of this.
Here are the Local Property Tax Bands based on 2022 Rates:
Valuation Band | LPT Based Annual Rate |
€0 - €200,000 | €90 |
€200,001 - €262,500 | €225 |
€262,501 - €350,000 | €315 |
€350,001 - €437,500 | €405 |
€437,501 - €525,000 | €495 |
€525,001 - €612,500 | €585 |
€612,501 - €700,000 | €675 |
€700,001 - €787,500 | €765 |
€787,501 - €875,000 | €855 |
€875,001 - €962,500 | €945 |
€875,001 - €1,050,000 | €1035 |
It is important to note that each local council can increase or decrease the property tax for its residents by up to 15%. To get a full breakdown of your local property tax including local council adjustments, go to Revenue.ie or your local council's website.
A list of all county councils can be found here: https://www.gov.ie/en/publication/942f74-local-authorities/#county-councils
Be aware that it can be difficult to find the relevant LPT page on each council's website as they are inconsistently signposted and communicated by different local councils.
The Home Hunter Report will give you a snapshot of the Local Property Tax (LPT) along with over 20 other pieces of information which will be vital to you deciding whether or not to proceed with your interest in a property.
To buy a Home Hunter Report, go to HomeHunterReport.ie and enter in the postcode. It's Property Research Made Easy!
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