Finance (Local Property Tax) Act 2012 section 13

Valuation date

Section 13 establishes the valuation date by reference to which the chargeable value of a residential property is determined for local property tax purposes, and defines the corresponding valuation periods.

• The property value used for LPT is fixed by reference to a specific valuation date, which then applies for a multi-year valuation period.
• The first valuation date was 1 May 2013, covering the years 2013 to 2021; the second was 1 November 2021, covering 2022 to 2025.
• From 2026 onwards, a new valuation date arises every four years, falling on 1 November in the year before the four-year period begins.
• The Minister has the power to alter any valuation date by ministerial order.