LPT: Reduction in valuation band for 2014?

mayo exile

Registered User
Messages
56
Has anyone applied to Revenue to reduce their valuation for 2014? Currently my property is in band 2 (100,001 to 150,000). However 3 weeks ago the house next door went sale agreed for €85,000 (band 1). I've emailed and written to Revenue seeking a reduction in my valuation for 2014. From the Citizensinformation website:

If you wish to amend your submitted return, you can contact Revenue to amend your valuation. You must submit any valuation amendments to Revenue in writing. Any amendment must be supported by evidence to explain or prove the need to decrease the value. Appropriate evidence can be in the form of recent sales or advertised house prices in the area, professional valuations or house price surveys for the area.
You can only revise upwards when you login to your account on the LPT website and want to change your valuation. You are advised to write to Revenue otherwise.
 
You can't reduce your valuation for 2014, as such.

The date of valuation is 1 May 2013. If house values subsequently rise or fall, it does not matter. That is the valuation date for 2013, 2014,2015 and 2016.

If you think that you put in a wrong valuation as of 1 May 2013, I presume you can change it.
 
You can only revise upwards when you login to your account on the LPT website and want to change your valuation. You are advised to write to Revenue otherwise.

So it would seem that you need to write to revenue giving your reasonings for the devaluation, I'd attach the proof of the sale price on the house to help your case (you can either get the sale price from your neighbour, his auctioneer, or the property price register. Please let us know how you get on.
 
LPT reduced down to band 1 (€90 per year). Got a cheque in the post today from Revenue for €202. This is a refund for the 6 months of 2013 and for all of this year for the difference between bands 1 and 2.
 
Thank you for coming back, can you confirm the actual process you went through (and well done)
 
Thanks Bronte. As per post #1, I emailed and also wrote to Revenue, with evidence of the price of the house next door to me that was sold for €85,000, plus values of other similar properties to my own in the area (Dundalk). These were from daft.ie, plus various local estate agent websites.

I then rang them 2 or 3 weeks later to confirm receipt of this info. Was planning to ring the LPT helpline as I had nothing back from them, then the cheque came through the letterbox this morning. Was a letter with a cheque attached.

It didn't specifically state that my band was changed on it, so I logged into my online LPT account and saw my valuation was now €90 for 2014 instead of €225 previously.
 
I have a similar experience re refund through similar house sold at less than I valued my home. Browtal
 
would if make a difference if the properties sold for less than the value of my home if these were bank owened but in a good state
 
Back
Top