Concern over farm home tax
THE CHAIRMAN of Wicklow ICMSA, Chris Fox, has voiced his concerns over the Revenue Commissioners system for evaluating farming homes for the Property Tax.
Mr Fox confirmed that ICMSA have written to the Revenue Commissioners outlining the need for a realistic valuation of homes and, most particularly, for farm dwellings.
He believes it will be next to impossible to establish the value of houses in rural areas where there is little or no recent sales data available.
‘In arriving at the value of the dwelling on a farm, account must be taken of the special nature of the farm dwelling. Essentially, a farm dwelling will have restricted value arising from access issues and nuisance factors such as proximity to farm buildings and the possibility of odours. These nuisance factors are considerable and inherent and the Revenue must take these into account in providing an ‘indicative value’ of the value of a farm dwelling. ‘
While owners will still be able to self-assess their properties, Mr. Fox feels that they could face the prospect of audits or challenges if they deviate from the estimate provided by the Revenue.