The Revenue say they now have the staff to effectively enforce the LPT and target the very small minority of people who submit a valuation that is below the actual market value of their residential home
The price of property right across the country has soared in recent years but the property valuations on the Revenue Commissioner’s books which dictate the exact amount of property tax you pay have stayed the same for a number of years
The Revenue Commissioners are going to seriously crack down on underpayment of the Local Property Tax for the first time ever.
The warning was issued to accountants and tax specialists over the last few weeks as it sent over two million letters to householders ordering them to re-value their property by November 7 next.
The Revenue say they now have the staff to effectively enforce the LPT and target the very small minority of people who submit a valuation that is below the actual market value of their residential home.
A Revenue source said: “It wasn’t that we didn’t police it – we didn’t have time to check and see if householders were submitting the correct valuations.
“The temptation was there to put in less than the house was worth, pay less tax than you should, and we didn’t have the manpower to check up on it.”
One tax specialist who was privately briefed by a Revenue Official said: “They are very serious about clamping down on this for the first time ever and they say they now have the staff to do it.
“Anyone who does not submit the proper current market value of their home risks being hit with fines and interest. I have informed my clients it is simply not worth it.
“The vast majority of people do submit the real value but there is a tiny minority, a few per cent, who don’t.
“The Revenue are determined to target them because it is not fair on everyone else who plays by the rules and does the right thing.”
The price of property right across the country has soared in recent years but the property valuations on the Revenue Commissioner’s books which dictate the exact amount of property tax you pay have stayed the same for a number of years.
Now a letter sent by the Revenue Commissioners to householders all over the country has warned that, by law, you must value your property by November 1, 2025.
This evaluation will determine the amount of LPT you pay for 2026 and for the four years from 2027 to 2030.
There are several different price bands that you are asked to place your property in
People are checking Daft.ie to see the price received for recent sales in their area or getting a local auctioneer to do it.
Each property owner has been given a Property ID and PIN number in the Revenue letter to submit their relative valuation here by November 7 next.
There are several different price bands that you are asked to place your property in.
Revenue said: “Revenue has set out an estimated LPT liability in the Notice of Estimate. Payment of the LPT amount stated in this Notice of Estimate may not satisfy your liability in full.
“This estimated liability will be replaced when you provide your self-assessed property valuation of your LPT Return.
“If you do not submit your LPT Return by 7 November 2025, Revenue will firstly collect the estimated LPT liability and secondly continue to seek submission of your LPT Return and confirmation from you of your property valuation.”
This year alone, Revenue is due to collect over €550 million in LPT which has been allocated to the various local authorities nationwide.
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