Are You Ready To Pay Your Local Property Tax?
The Local Property Tax (LPT) for 2015 is coming due and will become liable for payment on January 7th. The Local Property Tax is a self assessed tax based on the value of your home and is due every year as part of the governments property charge initiative. It is possible to do a phased payment option with the full amount being paid by the end of 2015. The amount due is calculated based on the value of your home under revenue guidelines and the letter you would have received from Revenue will give an indication as to the payment band you are currently assessed at. There are a range of payment options for LPT including:
- Cheque or Postal Order for the full amount
- Deduction at source from your Salary
- Monthly Direct Debit from your Bank Account
- Regular Payments through one of the Payment Providers (An Post, Payzone)
- Paying in Full by Credit Card
- Paying in Full by Debit Transfer
For many homeowners the Local Property Tax will be less than €315 (e.g. the home price band up to €200k) but other, particularly Dublin homeowners, will pay more due to the average house price in Dublin of €250k (e.g. €495). As the Local Property Tax is a compulsory tax administered by Revenue there are very few cases where the tax can be avoided. Revenue have the power to deduct from your salary if you elect to ignore or not to pay the charge within the prescribed timelines. The best course of action is to take care of the charge and send back your completed payment order by January 7th. You wont be charged until March 21st if you do so and this will give you some post Christmas relief before payment is deducted.
Contact Avid Partners to discuss any issue relating to the local property tax or any other tax return. Call us on 0818 303087. Email us at advice@avidpartners.ie. Alternatively you can complete the enquiry form below.
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