Finance (Local Property Tax) Act 2012 section 17

Amount of local property tax

Section 17 sets out how the amount of local property tax (LPT) is calculated, based on a banding system linked to the chargeable value of the property, with different rates applying at different value thresholds.

• Properties are placed into one of 19 valuation bands; band 1 (up to €200,000) carries a flat charge of €90 and band 2 (€200,001–€262,500) carries a flat charge of €225, while bands 3 to 19 use the mid-point of the relevant band to calculate the tax.
• For bands 3 to 11 (€262,501–€1,050,000), the LPT is the mid-point of the band multiplied by 0.1029%; for bands 12 to 19 (€1,050,001–€1,750,000), the first €1,050,000 is taxed at 0.1029% and the excess of the mid-point over €1,050,000 is taxed at 0.25%.
• For properties valued above €1,750,000, the first €1,050,000 is taxed at 0.1029%, the next €700,000 (up to €1,750,000) is taxed at 0.25%, and the amount exceeding €1,750,000 is taxed at 0.3%, with the actual chargeable value used rather than a band mid-point.
• Where a local authority or an approved housing body is the liable person, the property is automatically deemed to fall into band 1, attracting an LPT charge of just €90 regardless of its market value.

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