Eithneangela
Registered User
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I'm selling my house in Dublin. While it was my family home for 27 years, it's been rented out for the past 8 years. When it was valued for Property Tax last year (by me, on foot of lots on online research using sites like the property register, myhome, daft etc.) I valued it at between €400K and €450K.
Since then, properties in the area are selling almost like hot cakes and the prices have risen - the Estate Agent expects to get €550K for the house.
This is over the 15% threshold set by Revenue for property so I may be liable for some kind of punitive payment for under-valuing the house. BUT I DIDN'T! Apparently Revenue can stop the sale of a house unless they're happy with the valuation and property tax paid. Surely they will have to re-look at current market values versus those which applied even only 18 months ago in certain urban areas?
Would love to hear from anybody who is experiencing same.
Since then, properties in the area are selling almost like hot cakes and the prices have risen - the Estate Agent expects to get €550K for the house.
This is over the 15% threshold set by Revenue for property so I may be liable for some kind of punitive payment for under-valuing the house. BUT I DIDN'T! Apparently Revenue can stop the sale of a house unless they're happy with the valuation and property tax paid. Surely they will have to re-look at current market values versus those which applied even only 18 months ago in certain urban areas?
Would love to hear from anybody who is experiencing same.