One-third of Galway householders face property tax hike

About a third of all homeowners in Galway face a €90 hike in their Local Property Tax bill, according to Government estimates.

One in every ten will benefit from a decrease in their LPT liability – and for the majority of taxpayers (53%), there will be no change in their annual bill.

However, the newly reconfigured LPT means that homes built since 2013 –exempt from the tax up to now – will be liable for LPT in 2022 onwards. It’s understood this will impact on hundreds of Galway homeowners.

Any new house built from here on will be liable for LPT the following November and in subsequent years.

Revenue has reminded residential property owners to submit an LPT return, including a self-assessed valuation of their house, by this Sunday, November 7.

Properties were last valued for LPT in 2013, which determined the LPT liability for the years to 2021. The new valuations – assessed on Monday, November 1 – will determine the LPT liable for the years 2022-2025.

Guidance on how to value property is available online, or Revenue encourages people to consult property pages of local newspapers.

Finance Minister Pascal Donohue announced earlier this year that rates have been cut and bands have been widened.

“This means that the majority of homeowners are likely to see either a decrease or no change. Where increases arise, the majority will be a single band (€90), notwithstanding the significant increases we have seen in property values since 2013,” he said.

Read the full story in this week’s Connacht Tribune, on sale in shops now – or you can download the digital edition from www.connachttribune.ie