Your Guide to Local Property Tax (LPT): Compliance, Exemptions, and Payment Obligations
Article by Siobhan Healy.
- Revenue Commissioners publish Q1 2023 statistics on Local Property Tax (LPT) compliance rate.
- Compliance rate shows 90% of property owners have met their LPT payment obligations.
- €314m collected in LPT for the current year.
- New LPT regime introduced in 2022, based on property valuation as of Nov 1, 2021.
- Exemptions include properties with pyrite damage, defective concrete blocks, owned by charitable bodies, nursing homes, and incapacitated individuals.
- Property owners exempt from LPT still need to file a return to claim the exemption.
- Owners of properties built in 2022 required to submit LPT return and payment arrangement for 2023.
- Non-compliant property owners may face enforcement measures such as salary/pension deduction, tax clearance withholding, and surcharges on tax returns.
- Revenue urges property owners to take immediate action to ensure compliance with LPT obligations.
Stay on top of your Local Property Tax responsibilities. Consult with FDC Group’s knowledgeable tax professionals to ensure full compliance and avoid potential penalties. Contact your local tax consultants for expert guidance on LPT and other tax matters.
Siobhan Healy is a tax consultant with FDC Bandon.