Valuing your property as at 1 May 2013
The first valuation period for Local Property Tax (LPT) covered the period from 1 July 2013 to 31 December 2021. The valuation date for LPT for that valuation period was 1 May 2013.
This means that the liable person had to self-assess the value of the property as at 1 May 2013. The self-assessed valuation of the property as at that date applies for the full valuation period from 2013 to 2021.
The LPT liability for the rest of the valuation period from 2013 to 2021 is not affected by:
- any repairs or improvements made to your property after 1 May 2013
- any general increase or decrease in property prices during the valuation period
- any event after 1 May 2013 that may have negatively impacted the market value of your property, for example, flooding or erosion.
If your property was liable for LPT on 1 May 2013, but was not registered with Revenue, you should immediately:
- value your property as at 1 May 2013
- submit your LPT Return to cover the valuation period from 1 July 2013 to 31 December 2021.
Interest charges and additional penalties may apply.
How to value your property as at 1 May 2013
You can value your property, as at 1 May 2013, by referring to the following information sources for guidance:
Revenue’s Property Valuation Guidance for 1 May 2013 provides an indicative valuation band for properties depending on type, age and location, as at 2013. It does not provide market values for individual properties and it does not apply for properties with a market value greater than €1 million as at 2013.
The guidance is helpful for the majority of properties, but there are always properties in an area that differ from the average. Your property may have certain unique features that you should take into account when determining its value.
The indicative valuation band for properties in your area, as indicated by the guidance, may not reasonably reflect the value of your own property as at 1 May 2013. If this is the case for your property, you should make your own assessment using the other information sources listed above.
You should keep a copy of any information sources and supporting documentation that you use to determine the market value of your property as at 1 May 2013. Revenue may request this from you in the event of a review of your self-assessment of your property’s value.
What you should include in your valuation
LPT for 2013 to 2021 is payable on any residential property and other lands associated with that property up to one acre. This includes any buildings or amenities on the property such as:
- a yard, garden, or patio
- a driveway or parking space
- a garage, shed or greenhouse
- a garden room or home office.
Land, farmyards and buildings used for farming are not part of a residential property and they are not liable for LPT.
Next: How your LPT charge for each year is determined