Homeowners have been warned Revenue officials are likely to challenge them if they attempt to undervalue their homes for the property tax.
1.4 million letters started arriving in homes from Revenue telling people to self-assess the value of their homes on November 1, submit the details by November 7, and either pay at that stage in a lump sum or indicate what alternative payment option will be used.
Revenue has warned that sheds, home offices, garages, greenhouses, garden rooms, and more than one acre of land (unless it is a farm), will all have to be included in the valuation.
Next year an extra 100,000 homes will be subject to the tax. Those who bought new builds, and others who had exemptions for the likes of pyrite damage in Leinster, are no longer exempt.
Even those who have paid the tax every year since 2013 have to put in a new valuation and submit a new return.
A Revenue spokesperson said the letters sent out include an estimated valuation of properties. ‘If there is a concern about a self-assessed valuation made by a property owner, Revenue will ask the owner to support his or her valuation with evidence of the information sources,’ which will be reviewed.
Read full article: Independent.ie