Written Valuation from 2012 v property tax liability

Madangan

Registered User
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Hope my title isn't misleading.

I received my letter from Revenue yesterday which put my property at the €350-400,000 band.

I know I can't rely on that etc...

My question is that having had my house valued for free by estate agents last July I have in writing a valuation that suggests an AMV of €475,000. However it also says market it at for sale at €525,000. - might achieve €500,000 plus.

The letter from Revenue is clearly not correct so I will ignore it. However should I put valuation at €450,000-€500,000 based om AMV or the next band up €500000plus?

I don't want to cheat system but nor do I want to pay too much tax.

Suggestions appreciated
 
Thanks for taking time to reply! I will check out the site re price changes too.

I fully understand that the revenue letter is not a valuation and in my case is also way below whatever that may be. As it turns out the daft guide tallys with the Revenue and th property price register is not particularly helpful as it ranges from houses sold under €200,000 and over €650,000 all within 100 yards of me.

I suppose my Question, if I may rephrase it, is can I rely on the AMV in my valuation which puts me in one valuation band or the fact that in the same letter my estate agent sys it could achieve somewhere over 'x' which puts it into the next band up?
 
The price increase checker gave a very low valuation when I input my year of purchase or rather closer too the Revenue and Daft "valuations" but when I used a valuation I got in 2008 and applied the price checker to that it put me in the €450/500,000 band.

All in all I think I'll go with that valuation. It may be it should bein the higher one but I can definitely justify and back up my arguments for the €450-500,000 band.

I have to assume that if only one band out and in such a diverse area and by paying 2 bands over the Revenues guide then it would be difficult for them to accuse me of a deliberate or fraudulent undervaluation in the future.

At the end of the day if we have to self assess what is a subjective valuation our obligation is to be as accurate as possible not to 'overvalue' out of fear!

Thanks for your input :)
 
My question is that having had my house valued for free by estate agents last July I have in writing a valuation that suggests an AMV of €475,000. However it also says market it at for sale at €525,000. - might achieve €500,000 plus.

Written value by estate agent is 475K so that is what you go with. The marketing tactic can be ignored.
 
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