LPT: Daft.ie launches a Local Property Tax calculator

Just saw it now. It's better than revenues IMO in that it gets a little closer to trying to differentiate property values by asking for number of beds, bathrooms and whether it has a garden or not
 
A few months back, I had estimated our house to be in band 4 from the property price register. Then the revenue launched their estimator and put us in band 6! Now DAFT have us back in band 4.

It seems the Revenue system is a very coarse average of all house types in large areas. I presume this is taken from averages over the past number of years which is also unreliable when house prices are falling rapidly.
 
Just used the Daft.ie calculator and in my case the figures produced are senseless.

Daft's calculator and Revenue's map are inaccurate because they are obviously using insufficient or incorrect data to produce a meaningful calculation. The result is a false conclusion and a misdirected public.
 
In my case Daft.ie's calculator is even MORE useless than Revenue's. Has my house in Band 1 paying tax of €45 this year!!! If only. Unfortunately this seems to be broken out of the box.
 
Yeah no good for me either, puts my property at higher than the last one to sell in the development over 2 years ago.
 
Well it looks like adding that ensuite has really paid off then!!!!! My property is worth approx 22k more by having added the 2nd bath!!...Wouldn't it be great if that was realistic!
 
SPUDZ said:
Well it looks like adding that ensuite has really paid off then!!!!! My property is worth approx 22k more by having added the 2nd bath!!...Wouldn't it be great if that was realistic!
Click to expand...

Is it a bathroom if its only a toilet?
 
It has put our house in band 3 got it vauled last year and it is worth €150000 and daft are value is €250,000 to 3000,000
 
I got same result with both calculators and am sure both are wrong. But I will use their undoubted agreement in valuing my house for the tax.!!
 
I get the same band with this as with Revenue's site for the houses that I mentioned here. As I mentioned I suspect that my own house may be at the upper end of the band identified and might even edge into the next band but I'm happy to take the lower estimate assuming that it's what arrives in Revenue's letter when it arrives.
 
The daft estimate is better than the Revenue attempt.

Thanks for the ***************** link I find their purchase prices multiplier approach to be the best so far.
 
Agree. Seems a better reflection of what I guessed current value to be. Revenue values appeared well understate stand-alone rural property!
 
The Daft and Revenue model of mass appraisal does not work in rural areas.

Were the sales in your area a distressed sale, a premium price sale, an investor etc?? How these interact affect the figures you see which are used to estimate your property tax. Unless you know the quality and quantity of the data they have used to arrive at that figure then the result can only be flawed.

To be expected to act as both a willing seller and a willing buyer on your own property in a market with no good evidence of previous sales and to use information provided to produce a subjective valuation is wrong and preposterous.

Am I correct if you overestimate you won't get a refund and if you underestimate you get a fine?

At present I have 5 different figures and I await the sixth which is Revenue's letter with their valuation.
 
This calculator has my value in line with what I had thought - we built in 04 with value of 240k which gives me a value today of 141,600. I had along been thinking it would be in the region of 40% drop in value. This calculator puts me in Band 2. Now here's where I'm confused, if a house a few doors down sold in 2010 for 214,600 is now valued at 169,534 (slighter better spec house as all individual builds) would I be in Band 3 or work of my own valuation given to me in 2004??
 
Both DAFT and Revenue put our house in Category 2 which is fair enough but I actually think our house's market value is probably higher. All houses in my area are different shapes and sizes. If we were to sell, which is highly unlikely at any point, I would be assuming a higher value.

Without having to go to the bother of getting a valuer in I'm inclined to go with DAFT's value which is a bit higher than Revenues.

But just a question if anyone could answer it would be appreciated.

Supposing I place the value at X and we did decide say in 3 years time to sell can that value X be queried by a potential buyer if I was hoping to realise a higher sale value?

I have house insured for a much higher value and wonder if I should use this as the basis for valuation.

So hard to know what to do.
 
Very big difference in estimated value of our apartment - revenue have it in the €150K-200K bracket while Daft have it at €91K! My guess is it is somewhere in the middle but I have a feeling the Daft figure is skewed slightly as I know in the area where our apartment was sold one apartment was sold for a ridiculously low price (< 50K) and this may be bringing the average down.
 
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