Irish outlook

13 January 2013

I n six months’ time the collection of the new property tax commences in earnest. It will be a remarkable development. Every dwelling in the country including 140,000 owned directly by local government will be included in the tax net. In the case of each of almost 2m dwellings the owner will have to estimate the value of the property by placing it within an appropriate valuation band.

The Office of the Revenue Commissioners will have to process the information provided by the property owners and satisfy itself that the declared valuation in each case is fair and accurate. Revenue will then collect the tax, frequently deducting it in whole or in a series of parts from income or from social welfare transfer payments.

13 January 2013