Finance (Local Property Tax) Act 2012 section 14

Change of liable person between consecutive valuation dates

Section 14 deals with what happens to the chargeable value of a residential property when ownership changes between valuation dates, and what information must pass from the outgoing owner to the incoming owner.

• When ownership of a residential property changes between two consecutive valuation dates, the chargeable value established at the earlier valuation date continues to apply until the next valuation date.
• The outgoing owner must provide the incoming owner with all relevant LPT information and documentation, including the chargeable value, the LPT return, or any Revenue estimate.
• The continuity rule does not apply where the previous liable person was a local authority or approved housing body and the new liable person is neither of those — in that case, a fresh valuation is required.
• A property that is not a relevant residential property on 1 May 2013, or on the first valuation date for any consecutive three-year period after 2019, will not become liable until the next valuation date, except where the first-time buyer exemption under section 8 applies.