Thousands continue to resist local property tax receipts months after the deadline

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Thousands of homeowners continue to defy revenue by failing to file a local property tax return months after the deadline.

New figures show that 178,000 properties have not received a property tax return.

This means that only half of the people contacted by the tax authority in March and April have responded to their warnings to file a tax return.

The failure of so many to provide an up-to-date valuation means they may not pay the tax and face hefty interest penalties.

Rules for this year’s Local Property Tax (LPT) have changed, requiring a re-appraisal for homes, the first such re-appraisal requirement since 2013.

Property owners had to determine the market value of their property as of November 1st.

The higher-than-expected non-compliance means that the property tax amount for those homes, for which no rating was provided, is based on estimated values ​​compiled by finance statisticians.

According to revenue, the total number of properties estimated to be taxable for this year is around 1.98 million.

Earlier this month, more than 1.62 million properties had declarations filed and payments made or payment arrangements made.

In March, Revenue wrote to nearly 300,000 homeowners who had failed to provide an updated appraisal for their homes at the time.

In addition, 176,000 properties have been entered into registration agreements by local authorities and licensed housing associations.

Revenue said it was in correspondence with the owners of another 10,000 properties. Once the agreements are finalized, Revenue said the owners will be able to file their declarations.

“As such, these property owners are considered compliant,” Revenue said

The total return compliance rate is 91 percent. However, the tax office confirmed that there was no registration for around 178,000 properties.

“This means that around 9 percent of the 1.98 million LPT-requiring properties for 2022 have not yet submitted returns (about 178,000),” it said.

It added that payment agreements have been reached for 84,434 of the 178,000 properties for which returns have not yet been filed.

In March, Revenue wrote to nearly 300,000 homeowners who had failed to provide an updated appraisal for their homes at the time.

This move represented a change in the approach of the tax collection agency.

The Revenue Commissioners had refrained from contacting those who had not filed tax returns because of the financial impact on families of Covid and the Ukrainian war.

But four months after writing warning letters to non-compliant property owners, only half of them have filed a statement to state the current value of their property. Some of those who have not provided an updated rating will pay the LPT but based on 2013 property ratings.

The Inland Revenue has broad powers to impose penalties if it finds that property tax has been underpaid.

These include charging interest at the rate of 8 percent per annum on amounts owed, imposing penalties in certain circumstances, and referring the debt to a sheriff for collection.

https://www.independent.ie/business/personal-finance/property-mortgages/thousands-still-defying-revenue-on-local-property-tax-months-after-deadline-41844088.html Thousands continue to resist local property tax receipts months after the deadline

Fry Electronics Team

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