Finance (Local Property Tax) Act 2012 section 53

Local property tax payable in accordance with self-assessment

Section 53 establishes that the amount of local property tax a liable person must pay is the amount shown in their own self-assessment.

• The local property tax (LPT) payable is based on the liable person's own self-assessment figure.
• This self-assessment principle places the responsibility on the property owner to calculate and declare the correct amount of tax due.
• This general rule is subject to Revenue's power to issue an estimate of the tax due where a person has not filed a return (section 49).
• It is also subject to Revenue's power to make a formal assessment where it believes the self-assessment is insufficient (section 55).