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Things to you need to know about your Property Tax Bill


Property tax bills are now arriving in the post and many of those who pay their bill in a one-off lump sum now have 52 days to do so.

Below are five things that are important to know when it comes to your Property Tax Bill for 2018.

*Higher Bills- Homeowners in seven local authority areas will have more expensive property tax bills for 2018 than they did in 2017. This is because their councils decided to increase the 2018 property tax rate from the rate charged in 2017.

*Deadlines- You have until January 10, 2018 to pay your property tax in one lump sum – if paying by debit card, credit card, cheque or in a single cash payment (through An Post, Omnivend or your credit union). You have until March 21, 2018 to pay if you wish to have Revenue take the full amount you owe from your bank account – in a once-off deduction which is known as an annual debit instruction.

*Coming Clean- Since the property tax was introduced, the owners of more than 11,900 homes have paid extra property tax after they either corrected their original valuation themselves – or did so after Revenue challenged the valuation put on a property. Should you have deliberately undervalued your home in 2013 so that you would pay a lower property tax, you should correct the original valuation and pay the tax owed.

*Buying and Selling- Property tax can become tricky if you are selling property – particularly if there is a big difference between the value which you declared for your home in May 2013 (for the purpose of the property tax) and the sale price which you have secured for your property. The difference between the declared value and the sale price must fall within specific limits set by the Revenue. Otherwise, you may need to pay additional property tax before you can sell your home.

*Changes-In 2018, the Government will consider a number of recommendations made by Dr Don Thornhill in his review of property tax in 2015 and there could be changes in the amount of tax you pay after 2019 as a result. For the moment, you do not need to pay more property tax if your home is more valuable than it was in May 2013 – as long as your original valuation (for the purpose of the property tax) was honest.