Revenue underestimates house values in Property Tax scheme

Homeowners could be surprised by the valuation put on their homes when they receive letters from Revenue this week.

As authorities prepare to collect the new Property Tax, Revenue is to begin distributing tax forms to 1.8 million householders nationwide.

Yesterday, Revenue published its online guide to property values based on the average price in the area and the age of the house.

Many observers have said some of the guide's estimates are actually below market value.

Managing Director of MyHome.ie, Angela Keegan said that could depress the market.

Ms Keegan said: "I know I looked at some homes where I would be fairly familiar with their values, and most certainly the Revenue calculation is less.

"I think that really shouldn't surprise us, because they have gone with the electoral district level, and within the electoral zones there is such a wide variation of homes in the semi-detached or detached category."


More in this Section

Concern for children's safety following 'alleged suspicious approach' in DublinConcern for children's safety following 'alleged suspicious approach' in Dublin

More focus on livelihoods needed in Brexit talks, says Micheál Martin More focus on livelihoods needed in Brexit talks, says Micheál Martin 

Ireland’s only dedicated track for car drifting facing uncertain futureIreland’s only dedicated track for car drifting facing uncertain future

Emergency care resources 'highly skewed' to North East, study findsEmergency care resources 'highly skewed' to North East, study finds


Lifestyle

There are literally hundreds of free events on offer this evening for kids and adults on Culture Night. Marjorie Brennan selects the best of them, in Cork and beyondCulture Night: Get out and make the most of it

The American heritage brand has put together a collection inspired by the most stylish Friends character.This is why Rachel Green’s style is the epitome of Ralph Lauren – as a new collection is announced

When starting out as a comedian, Cork man Andrew Ryan decided to go to straight to London, sidestepping the usual starting ground of Irish clubs and pubs.Cork comedian Andrew Ryan is 'a cross between Ardal O’Hanlon and Ed Byrne'

Rachel Marie Walsh knows the best eyeliners to try this season.Beauty is in the eye of the beholder: Essential eyeliners for a killer look

More From The Irish Examiner