Key Post Valuation issues relating to the revised value for LPT 1 November 2025

Shelby219 said:
In regards to home valuation for LPT would revenue look at what figure is put in for probate,? ie a estate agent values a house at€750k but hopes that it could go up depending on interest and advises to put it in for €1 m for probate valuation.
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If those are both fair and reasonable valuations, then you should probably take the average or use the middle band.
 
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Why not just ask AI to value your property for the purposes of LPT and base this on comparable properties in your area? I didn’t specify the steps to be taken but just told Copilot what I wanted. It developed a list of comparable properties and then iteratively refined the list to capture differences (e.g. extensions, attic conversions, etc.) between my property and the comparables, based on e.g. recent sales on Daft.ie listings, etc. It then adjusted valuations based on the differences, giving me [hopefully] a strong, defensible valuation for my 2026 LPT submission.

Not bad for less than 30 mins work.
 
My house was on the border of two valuation bands in 2013 so I chose the lower band. I printed out the last two houses sold in my estate from the property price register. In 2018 when I sold the house revenue valued it in the higher band and they charged me the extra LPT tax for each year plus penalties. I posted them in my valuations from 2013. They said both the houses were smaller then mine. (Which is probably correct, the are slightly different design.) However revenue refunded the penalties, which I felt was very fair.
 
I think that I know the answer to this question but would appreciate other peoples' views.

We bought our house in 2021 for €700K and it is currently in Band 7 (€621,501-€700K).

The new band that Revenue have estimated for us is Band 7 (€735K-€840). I have no problem with that.

However, we are currently doing serious refurbishment work to our house and we have moved out while the work is being done.

Our house will be worth a lot more than Band 7 in Spring 2026 (could be €1.1/1.2 million).

Is it OK to stick with the new Band 7 as of 1 November 2025 as the amount of expenditure on construction to that date would still keep us in the new Band 7?

And if we sell the property for €1.2 million in a few years (no plans), we can just explain the increase in value due to the refurbishment works that were only completed after 1 November 2025?

Thanks!
 
Sherwood said:
I think that I know the answer to this question
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I think you are asking the wrong question. The ongoing renovation has nothing to do with it

Sherwood said:
The new band that Revenue have estimated for us is Band 7 (€735K-€840). I have no problem with that.
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The LPT is a self assessment of market value. Revenue is just an estimate.

The renovation is not important. If you bought for €700k in 2021 then it is likely that your property has increased by 25-35% in that time. It would put you in the next band of €840-€945k fairly comfortably
 
Thanks for your response.

I double-checked when we bought the house for €700K and it was in fact March 2022 and not 2021.

I take your point that the Revenue is just an estimate but given the cost of construction renovation these days, it has to be a factor in the market value.

Would someone pay €840-€945K for our house knowing how much extra it is going to cost them to fully renovate/extend it?

I think that I would be happy to argue with the Revenue that they wouldn't but it's hard to know for certain.
 
Sherwood said:
I take your point that the Revenue is just an estimate but given the cost of construction renovation these days, it has to be a factor in the market value.
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Well yes & no, it is what someone would be willing to pay for it in its current state.

Sherwood said:
Would someone pay €840-€945K for our house knowing how much extra it is going to cost them to fully renovate/extend it?
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Well you did...the cost/size and finish of a renovation/extension is entirely dependent on your own wants/needs, not the markets.

Someone else might prioritize location or some other aspect of the property and be happy to live in it as is, which you have obviously done for the past 3 years. You can't say it is worth less because you have decided to spend a lot of money on it.

Ultimately it's your choice but it's a weak argument but the likelihood of revenue following it up is probably low
 
When we bought in 2021 we were at the very bottom of a band but as that is what we paid we couldn't argue it. Revenue now estimates we are at the bottom of the same bands new values. I think you could prove it either way. The map on revenue has us down a band. Am I opening myself up to audit by going down a band?

There have only been new builds sell in our area in 2025, do I need to add VAT to them? Is a new build worth more or less than a 10 year old house of same size? A new build usually needs a lot of money to finish off but new is a premium people pay for.

I would rather we were just in the middle of a band. I really thought they would move away from self assessment. Classic Ireland, everyone is an EA!
 
faketales said:
Revenue now estimates we are at the bottom of the same bands new values. I think you could prove it either way. The map on revenue has us down a band. Am I opening myself up to audit by going down a band?
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The Revenue map isn't infallible or the only arbiter here. They explain how you should approach arriving at a fair market valuation during LPT self assessment.

How to value your property

This page explains the tools available to help you value your property
www.revenue.ie www.revenue.ie
 
I dropped mine down a band. Last valuation I upped it a band. This is based on sales on the property price register. I would not unduly worry about it.
 
Anyone been successful challenging sale agreed price as value for LPT? Over 5 years it's a material amount of money (about €2500 in my case).

I bought a house end March (sale agreed end January). Sale price was €5000 into a new band, which vendor had to select as LPT value under Revenue guidance (I think they also had a historical undervaluing situation to sort out!).

Have asked Revenue LPT section to reduce the valuation down 1 band on basis a Dublin property must have grown in value more than the €5000 difference in the months since 1st November. Percentage wise it's less than half a percent, versus annual price inflation to March running over 5% in Dublin, according to CSO. Also provided a larger comparator property in similar condition on same estate which sold for less a few weeks prior to mine (all other recent local sales were for less still, but are not comparable properties.).
 
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