LPT & Property Tax

Discussion in 'The Local Property Tax' started by Applecart, Aug 30, 2018.

  1. Applecart

    Applecart Registered User

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    I bought a newly built house in 2016 which is my principle private residence. Just wondering when am I likely to have to start to pay LPT on it? I understand there is an exemption until ?2019
     
  2. Blackrock1

    Blackrock1 Frequent Poster

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    208
    submission will need to be made in November this year for tax payment beginning 2019
     
  3. Applecart

    Applecart Registered User

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    19
    Sorry Blackrock do you mean the government has to enact something by nov of this year in order to have payments begin in 2019 on new homes? Issue is valuation of homes. Current LPT I understand is based on valuations from years ago, so how do you value recently built homes?
     
  4. Blackrock1

    Blackrock1 Frequent Poster

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    208
  5. Applecart

    Applecart Registered User

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    19
    Yes but its based on ?2012 valuations is it not / (can't remember exact year LPT was introduced)
    So how do I know what my house was worth hypothetically in ?2012 when it was'nt built?
     
  6. Blackrock1

    Blackrock1 Frequent Poster

    Posts:
    208
    based on declaration from 2013, but new homes you will be asked to make your initial declaration based on todays date