How to value your farmhouse for the Local Property Tax
A property owner is expected to include in their valuation all outbuildings and curtilage of up to one acre with the property. Picture iStock
This year marks the first review in Local Property Tax since 2013. In the intervening years since 2013, residential property owners simply needed to pay the LPT charge based on their original valuation in 2013. The charge varied from year to year as county and city councils gained a degree in autonomy in setting the rates, but the rates have through the years been linked back to that 2013 valuation.
This year is different, in that property owners are being asked to reassess their property valuations.
