LPT: Revenue Property Valuation Guide (The Heatmap) now live

No matter what the neighbours think the market value is somewhere between what you gave for it and what was given for a similar Apt recently. vienne86 you will have no problem if you put yours in 200 to 250k bracket as you can support that declaration. If the neighbours want to continue the illusion of their Apartments being in the 350 to 400k bracket I am sure Revenue will facilitate this. I presume you are talking about 2 bed Apts.
 
The band on the map for my area is grouping fully detached large properties on their own land in with apartments, semi-d's, terraces and bungalows all under the same band which is 3 bands higher than what I would deem my property worth.

Ive checked a few friends places and it seems to be the same, all over valued.
 
I'm buying a house at the moment so you might think the value will be the price I'm paying now.

But I am doing renovations so that might lead you to think the value will increase.

But the renovations will a) reduce the sq footage and b) reduce the numbers of bedrooms and as a result the resale value will be lower.

A conundrum methinks.
 
My duplex is correctly in the 100k - 150k band. I am in an area of Lucan where there are only apartments and terraced housing, all fairly standard enough.
 
The market value is the determining factor on the 1st of May. I am puzzled about why you might be spending money on house that will lead to lowering its value. Puzzled. The value on the 1st May will be determine the LPT for next 3 years or so
 
sahd said:
Are you just going by the colours or have you clicked on the area and seen the values in the pop up box? When you click a specific area you can chose o view all property values for that area.
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Ah, I didnt see that. Im still overvalued by one property band. The detached houses are still well undervalued.
 
Dermot said:
The market value is the determining factor on the 1st of May. I am puzzled about why you might be spending money on house that will lead to lowering its value. Puzzled. The value on the 1st May will be determine the LPT for next 3 years or so
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Yes it seems counter-intuitive but I am customising the house for my own needs & that means reducing the number of bedrooms to 2 from 4 and reducing the square footage by demolishing an extension - these are modifications that make sense for me to live in this house - but would reduce the value if I were to sell it.
 
Just my personal opinion based on years of dealing with Revenue.

If you take their valuation and go with it you will be fine unless it is glaringly undervalued. For example if properties were trading at 1.5 times the revenue valuation then you could be in trouble.

However if you think their valuation is too high and you go in lower, you'd better have plenty of back-up to justify the lower figure. I would say as a start they will look for an independant valuation from a professional and also comparable sales to show that their figure was wrong.
 
I've checked the values for 2 of the major cities outside of Dublin and one sea side town. The revenue values are too high.

I had thought that the values would be by estate, but not so, they are taking in large areas encompassing many estates which would not have the same values.

When I get the form from revenue I will be putting a lower value. I will back this up with 2 recent sales one of which was Allsops and another which I know of and can prove. I will also consult the property price register, recent auctions for that area and daft. All of which I'll print and attach so that they won't even consider auditing me. I do not want to undervalue nor overvalue.

For the seaside area that I'm following, apartments are selling for less than 100K from 45K to not above 100 depending on size and location but the band is higher in the 100-150.

I know of one house where the owners once thought it was worth over a million, now thinks it's worth 750K and it's in band 4 detached at 200-250. This is a large newly build house, perfectly finished in an excellent location with a very large garden. A very small 30 year old house literally across the road from it is also in band 4 and there is a world of difference between the two properties.

And revenue could have used other colours rather than similiar different shades of orange.
 
Would it be ok to go for pre 2000 if the foundation and main structure of the building was in 1999 but fixtures and fittings weren't completed until 2000
 
LPT Guide

On the Revenue Guide to house valuations I can find a drop-down menu for Location, Year of Build and House Type (ie bungalow, appartment etc) - but I can't seem to find anything relating to size.
Where/how do I enter the size of a property ?
Thank you.
 
cashier said:
Why are they asking if your house was built pre or post 2000, does it make a difference in the valuation?
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I cannot figure this out either, why the distinction? I think they should have also done something with size, that's very important when it comes to valuations.
 
Bronte, I found quite the opposite. The Revenue values are way too low!

I paid to have my property valued by two separate valuers in Oct 2012 and within that profession there was a 21.5% difference in figures.

Looking at Revenue figures for my area the guideline figure they give is 280% below the valuer figures. Using the PSRA is of zero help from a sales comparison approach.

Not an easy project to give a reasonable estimate of the market value of your property when you are not emotionally involved in selling it.
 
Sumatra I found both below and above values.

For what it's worth I think a value by an auctioneer is completely pointless. My own guess is just as good as theirs.
 
cashier said:
grenzgebiet - There isn't an option for size, that's what I found the most baffling.
Click to expand...

I said it on another thread a couple of weeks ago and I'll say it again now - everyone seems to be losing the run of themselves in relation to this tax!

The maps only give a very broad indicator of what Revenue see as average values for an area; it's up to the person who knows most about the property to adjust for the unique features of the property, such as size, number of bedrooms, corner site with bigger garden, end of terrace etc... at the end of the day they've made it a self-assessment tax (maybe they shouldn't have but they did), so people will just have to think for themselves - Revenue have probably done themselves no favours by producing this map.
 
This guide is about as useful to me in rural Wexford as an ashtray on a motor bike. Every detached house where I am is different, including our own. Bungalows, semi detached and detached have all been put in the €100 to 150k band where we are. Size has been mentioned a few times on this thread. Plenty of big old farmhouses around me that are worth an awful lot less than more recently built, smaller more energy efficient houses. Only one recent sale near us also but we couldn't use it for comparative purpose as it was a small run down cottage. My sister told me at the weekend that she'd give me €50k for my house and at the end of the day it's only worth what someone is prepared to pay you for it! :D
 
My house comes in at band 2(100,000 -150,000).I think it should be in the one above. Same house across the way for sale for 175000.
I have an 2 bed apartment rented out coming in at band 2 also!The house was valued recently at 70000.One sold a few weeks ago for 69000. I will not be paying band 2.Will be sending in the valuation for apt along with the print off from the internet off the one that recently sold! Band 1 for that it is!

Net64
 
Mine was, sadly, about right i'd say. €300-350k, spent more than that on it in 2010 and then spent a good bit refurbishing.

Annoying thing yesterday was that it doesn't seem to be very mobile phone friendly which really should be a requisite these days. Trying to squeeze down on the map was impossible, i found.
 
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For what it's worth I think a value by an auctioneer is completely pointless

Not at all, that advice could save some a lot of money so worth quite a bit I'd say.

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Revenue have probably done themselves no favours by producing this map.

Is that because the figures on the map help set a reasonable expectation?
 
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