Inaccurate LPT bands

fidelcastro

Registered User
Messages
260
I got a leaflet through the door at the weekend from Josepha Madigan which states that residents in DLR can enjoy a 15% reduction in their LPT. Is this correct, and if so, how does it work — do you reduce the value of your property by 15%?
nice try !
 

trmartin

Registered User
Messages
13
This is a table of the LPT allocations, and shows which LA have cut or increased their rates.
Thanks, Protocol,

The Revenue Commissioners has an online LPT calculator tool (which for some reason I can't paste here).
 

NoRegretsCoyote

Registered User
Messages
4,064
There are huge amounts of confused people out there.

My parents got an estimate of Band 5 (437,501 – 525,000) from Revenue. I told my dad to go with Band 6 (525,001 – 612,500) as three doors away in worse nick sold for €575 in June but my mother insists that Revenue can't be wrong and go to with Band 5.

I put my own house in Band 8 (700,001 – 787,500) on the basis of the sale price plus uplift in the CSO property price index for Dublin houses. The landlord next door got in touch and insists she's going with Band 7 even though it's basically the same house in the same the same condition!


Revenue have shot themselves in the foot by giving people so many suggested techniques for valuing their house. The website lists their own tool, the CSO index, "local newspapers", daft/myhome, professional valuations. These sources made sense when they brought in the LPT in 2013 as it was a new tax and there were very few transactions at the time. But by now everyone has been paying for eight years. Revenue should just quote the legal basis which is "the price which...[]... property might reasonably be expected to fetch on a sale in the open market ". Most people with a bit of thought know what their house is worth and the bands are not that narrow!
 
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