Selling, buying or transferring a property

You are buying a property from a local authority

Local authorities were allowed to value all of their residential properties in valuation band 1, 'zero to €100,000', as of 1 May 2013.

What happens if I buy a property from a local authority?

If you buy a property from a local authority:

  • the buyer may assume that the local authority declared a reasonable market value for the property
  • a buyer may accept the band 1 valuation declared by the Local Authority regardless of the sale price
  • no additional LPT is due by the Local Authority if the sale price is greater than €100,000
  • the buyer can continue to pay LPT based on this valuation until the next valuation date (1 November 2020)
  • no general or specific clearance is required from Revenue.