LOUTH FOURTH LOWEST FOR LPT PAYMENTS

Over half the residential properties in Co Louth fell within the lowest valuation bands for Local Property Tax, according to the latest figures for 2017 released by Revenue. The county also ranked fourth from the bottom for compliance with the tax, with only Leitrim, Dublin City and Donegal being less compliant.

Over a third of properties in Louth, 34.7 per cent, were within the lowest valuation band of up to €100,000, with 29.5 per cent of properties in the next band of €100,001 to €150,000. Almost a quarter, 24 per cent were in the band of €150,001 to €200,000. At the upper range of valuations, 7.1 per cent of properties were in the €200,001 to €250,000 band, and just 2.4 per cent valued between €250,001 to €300,000 and only 2.2 per cent in the top band of €300,000 and over.

There was a 95.7 per cent compliance rate with the Local Property Tax in Co Louth, which was below the national average of 97 per cent. Returns were paid for 49,900 properties in the Wee County, representing €9million Exchequrer receipts.

The Collector- General, Mr. Michael Gladney said: ‘ There is a continuing high compliance rate for LPT, currently 97%, and the vast majority of property owners fully comply with their payment obligations either in a single payment, or with phased payments.’

For property owners who haven’t arrangement payments, mandatory deduction at source have been applied to 80,000 properties nationwide with Revenue saying the figure fluctuates as people regularise their affairs. In Louth, 3.5 per cent of payments were deducted at source.

Exemptions accounted for $200,000m, the amount declared €9.8million and €300,000 deferred.

Deferrals accounted for 2,300 properties and exceptions for 1,000 properties.

Around 43 per cent of property owners self-assessed the same LPT valuation band as the Revenue estimate and 57 per cent of proerty owners self-assessed a different LPT band to the Revenue estimate.

In Louth, 0.7 per cent were three or more bands lower, 6.5 per cent were two bands lower, 33.6 per cent were one band lower. 45.3 per cent saw no change, 7.5 per cent were one band higher, 3.7 per cent were two bands higher and 2.8 per cent were three or more bands higher.

Self-correction of valuations can be done by visiting through the LPT online application on the Revenue website by revising the original valuation band/ valuation declared in the 2013 LPT return.

The LPT situation has to be fully regularised before conveyance is finalised in the case of property sales.