Finance (Local Property Tax) Act 2012 section 15

Valuation in accordance with Revenue guidelines

Section 15 allows liable persons to determine the chargeable value of their residential property by using guidelines published by Revenue, and provides that such a self-assessment is treated as correct provided the guidelines were followed properly.

• Revenue publishes guidelines to help property owners estimate the market value of their residential property for Local Property Tax purposes.
• Where a liable person determines their property's chargeable value by following these Revenue guidelines honestly and with reasonable care, that valuation is accepted as correct.
• The protection applies only if the liable person has made the estimate in good faith and has not been careless or negligent in applying the guidelines.
• This provision gives property owners certainty that their self-assessed valuation will not be challenged by Revenue, so long as they have genuinely and carefully followed the published guidance.

---