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Irish Revenue Agency updates the rules on property tax

Irish Tax Office

Irish Tax Administration updated its local rules on property tax, taking into account the changes made to the Finance (Local Property Tax) (Amendment) Regulations 2015.

Most of the changes in the manual refer to the threshold for the various benefits that are free from the responsibility of payment of local property tax. This was the result of a three-year extension to the first period of evaluation of the situation. The period of assessment is currently ranges from 1 May 2013 to 31 October 2019, when satisfied the relevant eligibility conditions TND exceptions will now be available for that extended period.

Other changes related to the simplifications, they are available for properties occupied by individuals with disabilities. The main change relates to the simplification of operations, which applies when the value of the property increases as a result of adaptation to make it more suitable for individuals with disabilities. Since 2017, gross value of all these properties can be reduced on an annual basis of a fixed amount EUR50,000 (USD54,600). Guidelines for these simplifications – Guidance on local property tax exemptions for disabled / incapacitated persons – are published in the LPT section of website revenues have also been updated to reflect the changes.

Author: Sergey Panov
managing partner Finance Business Service