Selling, buying or transferring a property
You are buying a property from a local authority
Under LPT legislation, local authorities pay LPT on their residential properties based on Valuation Band 1. Valuation Band 1 applies to residential properties with a value of:
- €100,000 or less on the valuation date 1 May 2013, which applies for the valuation period 1 July 2013 to 31 October 2021
- and
- €200,000 or less on the valuation date 1 November 2021, which applies for the valuation period 1 January 2022 to 31 December 2025.
If you buy a property from a local authority you do not require general or specific clearance from Revenue.
LPT valuation and payment
For the valuation period 1 July 2013 to 31 October 2021, you should continue to pay LPT based on Valuation Band 1.
However, for the valuation period 1 January 2022 to 31 December 2025, you must pay LPT based on the market value of the property as on 1 November 2021. This means that Valuation Band 1 may no longer apply after you buy the property.
If Valuation Band 1 no longer applies to the property that you have bought from a local authority, you should contact LPT Branch. You will need to provide:
Please see How to value your property for more information on how to value your property as at 1 November 2021.
No additional LPT is due to be paid by the Local Authority even if the sale price is greater than €100,000.
Next: Purchase, sale or transfer of more than one residential property