NPPR ends 1/1/'14 replaced by LPT implications for relatively cheap multi units?

This is great news for thousands of investors who have smaller cheap properties - whether apartments anywhere in ireland or small houses in small country towns.

It means that they will all save money -me included.

This year i paid 200 NPPR & 100 pc on each of a few apts = €300 EACH.

From 1 Jan 13 I wont pay NPPR and will only pay .18% property charge -average charge under 200 euros.
for those with apts worth ,say, 50k it means a total charge of €100 in 2014 cf €300 this year.
 
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This is good for me too. My house is valued in the <€100,000 band.

Had the changes in the budget not come into affect, my annual charge would be:

€100 Household Charge + €200 NPPR Charge = €300

As it stands, my charge will be:

2013: €45 Property Tax + €200 NPPR Charge = €245
Later Years: €90 Property Tax = €90

The local authorities will have the option to increase the €90 by up to 15% from 2015 - giving a maximum charge of €103.50.
 
I would not trust the government not to bring in a higher % rate of property tax for investment propertys...
 
oldnick said:
This year i paid 200 NPPR & 100 pc on each of a few apts = €300 EACH.

From 1 Jan 13 I wont pay NPPR and will only pay .18% property charge -average charge under 200 euros.
for those with apts worth ,say, 50k it means a total charge of €100 in 2014 cf €300 this year.
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Careful - NPPR abolished on 1st Jan 2014.

So, during 2013, you ow the NPPR and the half-year LPT.
 
I think it is very mean spirited to not remove the NPPR tax in 2013 like they did with the household Charge.

Could it be considered unethical to basically have a double property tax on Rental property ?

ps I know the household charge applied as well as the NPPR to rental properties in 2012, but the household charge was charged as an "water charge service type cost".
 
oldnick said:
This is great news for thousands of investors who have smaller cheap properties

It means that they will all save money -me included.
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It's going to cost me a lot less too because I have a house divided into apartments so now I'll pay per property and not per unit. Happy days.

How is everyone going to value their properties, based on the new property index I presume?
 
Do you think it will be just one tax per property when divided into apartments.? I'm sure the government will have another plan. Happy days if it is just one tax per property.
 
I always assumed that each apartment was and is a seperate property for both NPPR and property/household charges.

For the property charge it makes no difference if it's for the whole property (i.e. building) or for each individual apartment. Whether you value the building at ,say, 300k or three apts at 100k each surely the charge is the same as everything is based on .18% of value.
 
But if a house is divided into apartments?bedsits you cannot sell one off individually. Just wondering as made that error the first year with NPPR and it cost me dearly at 20 euro a month for 2 extra bedsits for a year along with the original charge.
 
you raise an interesting point that I've just understood !

I think Meathlady you are asking ,for example...

House worth 200k - charge 315 euros (from 2014)

This house is divided into ,say, five tiny bedsit-type units. But you must still pay 90 per unit as all values under 100k are charged at €90. Total =450 euros.

So, should you pay 300 or 450 euros ?

The NPPR specifically stated bedsits. Does anyone know what the new local property charge will calculate for non-self contained units i.e. bedsits?

(P.S.Are bedsits still allowed?)
 
oldnick said:
I also think that NPPR are rates and should be tax deductible.
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I would agree. However, based on general info about this, and posts here, I don't include it as a deductable expense. However, if people are deducting it, and have been audited by Revenue, what have Revenue done about this deduction? If they did nothing, that would back up what some say has been contradictions on the treatment of this by them. If the majority are not deducting it, why would they make an issue of it. Lots of clarity required on this one by Revenue!
 
Think bedsits still allowed once they have their own self contained bathroom and heating system. However in my case my house is divided into three units rather than bedsits. Each unit accommodates three people, but the three units make up the entire house. With the previous household charge and nppr I had to pay per unit,so wondering what this plan will be.
 
Still not clear from your description. Is each unit self-contained with the tenants not sharing any common facility,like a kicthen? If each unit is an apartment with its own kitchen and bathroom then you pay property charge per apartment. Full stop.

If the tenants share any facilties (i.e. a common kitchen) then its basically one property for property charge purposes.

I'd love an expert to post on this.
 
I have a property divided into 2 apartments, no sharing of anything other than the hallway once you go in the front door. I paid per unit, so 2 charges. But now my understanding is that I will pay based on the property value. Each apartment could not be sold separately. It's not like owning 2 or 3 apartments in a building of say 50 apartments where each one has it's own legal title.
 
Meath Lady said:
Think bedsits still allowed once they have their own self contained bathroom and heating system.
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I cannot figure out if you have bedsits or not but I do know that the are no longer allowed or maybe that's from next year but they are definitely being disallowed.
 
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