The deferring of the valuation date for Local Property Tax (LPT) from 1 November 2020 to 1 November 2021 means that taxpayers will not be faced with increased LPT bills for 2021.
Commenting on the decision, Minister Donohoe noted that the pandemic “has introduced volatility into the residential property market.”
Donohoe is set to bring forward proposals for primary legislation, “These proposals will be designed to ensure fairness and that most homeowners will face no increase in their LPT liabilities,” he said. “They will also bring new homes, which are currently exempt from the LPT or outside of the tax, into the taxation system.”
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