Revenue update on Local Property Tax
Today (06/04/2023), Revenue published statistics on Local Property Tax (LPT) for the first quarter of 2023, detailing LPT collection of €314 million so far for 2023. The current payment compliance rate of 90% shows that the vast majority of property owners have met their payment obligations.
Payment arrangements for 2023 LPT liabilities are in place on over 1.7 million properties including 350,000 Annual Debit instructions debited on 21 March.
2022 was the first year that newly liable properties came within the charge to LPT on an annual basis. Owners of properties built during 2022 were required to submit an LPT return and set up a payment arrangement for 2023.
Commenting on the importance of property owners making sure that they pay their LPT liability or set up a payment method now, without delay, Ms. Katie Clair, Head of Revenue’s LPT Branch, said:
‘’All residential property owners were required to set up their 2023 payment method by 10 January at the latest and the vast majority did exactly that. However, some property owners haven’t yet paid or set up a payment arrangement and they now leave themselves open to collection and enforcement action by Revenue.
We have issued 150,000 letters to property owners who haven’t yet paid or set up a payment method to pay or make an arrangement to pay. Property owners who fail to do so may be subject to a range of collection and enforcement actions by Revenue including mandatory Deduction at Source (DAS) from salary or pension, withholding of tax clearance certification, the application of surcharges on income tax, corporation tax and capital gains tax returns or offsetting of other tax refunds against LPT arrears.’’
Ms. Clair concluded by saying:
“I urge all property owners who haven’t made arrangements to pay their LPT to take immediate action and use this opportunity to ensure they are fully compliant with their LPT obligations. The easiest way to set up your LPT payment method is online. You can access the LPT online portal on revenue.ie. However, if property owners need assistance in completing their LPT Return or have any queries regarding their LPT obligations, they can contact the LPT Helpline at 01 738 36 26.”
LPT statistics for the first quarter of 2023 can be found on the Revenue website.