Property Tax Estimates

[Vamos los azules]

So, I got my property tax estimate today. According to the Revenue estimate my apartment has not only managed not to lose value during the nationwide property crash, it has somehow managed to buck the trend and GAIN in value over the past 3 years.

Even more impressively, this special apartment that I have is also apparently worth 125k more than an identical one that one of my neighbours is currently selling.

Do feel free to post any similar tales of magical properties such as mine

[limecat]

So, I got my property tax estimate today. According to the Revenue estimate my apartment has not only managed not to lose value during the nationwide property crash, it has somehow managed to buck the trend and GAIN in value over the past 3 years.

Even more impressively, this special apartment that I have is also apparently worth 125k more than an identical one that one of my neighbours is currently selling.

Do feel free to post any similar tales of magical properties such as mine

Can I suggest that you immediately sell your apartment and buy your neighbours instead!

[Vamos los azules]

So, I got my property tax estimate today. According to the Revenue estimate my apartment has not only managed not to lose value during the nationwide property crash, it has somehow managed to buck the trend and GAIN in value over the past 3 years.

Even more impressively, this special apartment that I have is also apparently worth 125k more than an identical one that one of my neighbours is currently selling.

Do feel free to post any similar tales of magical properties such as mine

Can I suggest that you immediately sell your apartment and buy your neighbours instead!

Perhaps someone In Revenue wants to buy it as apparently they value it so highly.

[domhnallj]

Speaking as an interested viewer from across the water just how shambolic has this property tax thing been? Did they just randomly draw circles on a map or how did they do it?

[Hornet]

Speaking as an interested viewer from across the water just how shambolic has this property tax thing been? Did they just randomly draw circles on a map or how did they do it?

Remember the Poll Tax in the UK, well that's about how shambolic things are here at present.

[Peg Leg]

Speaking as an interested viewer from across the water just how shambolic has this property tax thing been? Did they just randomly draw circles on a map or how did they do it?

They have broken it down to the following,
Area - House Type - Money!
Area: there seems to be quite a few areas broken out from Revenues Online Interactive Map, however they have applied the valuations in broad strokes across these areas.
House type: there are 5
Apartment/Flat
Bungalow
Detached
Semi Detached
Terrace

Hypothetical example:
So this detached house

Costs the same as This detached house, if it's in the same area:

[fourthirtythree]

It's almost as if they have never heard of these people, just as a for example,http://airo.ie/ you know, a publicly funded body that produces spatial data like this for fun, and from whom you could get, at no cost, a much more granular break down by area.

Then again any introduction of a capital based tax really, really sticks in the craw of the Irish elite. In order to soften the blow they made sure that it wasn't actually going to relate strongly to the value of assets.

They only did it in the first place because the looney lefties in the IMF insisted.

[domhnallj]

Speaking as an interested viewer from across the water just how shambolic has this property tax thing been? Did they just randomly draw circles on a map or how did they do it?

They have broken it down to the following,
Area - House Type - Money!
Area: there seems to be quite a few areas broken out from Revenues Online Interactive Map, however they have applied the valuations in broad strokes across these areas.
House type: there are 5
Apartment/Flat
Bungalow
Detached
Semi Detached
Terrace

Just attempted the interactive map. I tried to value my parents house in Fingal but drew a blank since their house type isn't on the list (or my understanding on their house type doesn't match Revenue's). Presumably the band will be valued for tax at a later date (or a different web page)?

[paddyor]

Daft's Valuation system is way better(made my house cheaper). By adding in one or 2 extra questions they've made it more accurate. But it might have been anti family to ask about number of bedrooms.

[Hippo]

The estimate for our road is bang on, pleasantly surprised.

[johng]

So what happens if you go with the estimate and the estimate is too low? Will they eventually chase you down? Or because it was their estimate will you be exempt from being queried for a period?

House next door to us sold for double the amount of 2 round the corner. I think it was 2010 and the other 2 were 2011.

Obviously it was maxed out when the other 2 were smaller with much less done to them.

Basically someone who has not bought their house in the last 10 or 15 years can only have a vague guess of the value.

[Peg Leg]

Don't know whether to laugh or cry but (and you may need to bear with me here), I live in Phase 2 (or 1.25 as it's known) of a housing estate in ballygobackwards. Now, as it is a ghost estate (phase 2 & 3 are to incl approx 50 homes- there are 9 and a lot of grass & kerbing) I am exempt from paying the tax (woohoo, for me) however the estate next door(or nearly all the others in the area) are not.

The valuation for a detached house in the area is given by revenue as- €180,000.

Yesterday I found out that the bank has found a buyer for the remaining estate (see picture taken 4 yrs ago, the only difference now is more grass) which includes the following:
Kerbing for phase 2 & 3 complete, electrical sub distribution to sites complete, drainage to all housing sites complete, first layer tarmac and road drainage complete and 3 vacant houses (1 complete, 2 requiring internal 2nd fix only).


Guess how much the bank is selling the estate for (bear in mind that there are no debts being passed on to the purchaser)?

Show Spoiler:

€275,000

[johng]

Got to be a bargain for some aspiring developer. If you were so inclined and had a bit of equity in your mortgage you could jump in there. Get the tradies in on a shoestring and make a tidy profit.

[Peg Leg]

Got to be a bargain for some aspiring developer. If you were so inclined and had a bit of equity in your mortgage you could jump in there. Get the tradies in on a shoestring and make a tidy profit.

Is that not why it's like that in the first place?

[johng]

Got to be a bargain for some aspiring developer. If you were so inclined and had a bit of equity in your mortgage you could jump in there. Get the tradies in on a shoestring and make a tidy profit.

Is that not why it's like that in the first place?

Yeah Baby. That's the point.

[Peg Leg]

Got to be a bargain for some aspiring developer. If you were so inclined and had a bit of equity in your mortgage you could jump in there. Get the tradies in on a shoestring and make a tidy profit.

Is that not why it's like that in the first place?

Yeah Baby. That's the point.

Ah, I like, it. Let the good times roll!
The Lazarus Tiger starts here!!!

[Grumpy Old Man]

So what happens if you go with the estimate and the estimate is too low? Will they eventually chase you down? Or because it was their estimate will you be exempt from being queried for a period?

House next door to us sold for double the amount of 2 round the corner. I think it was 2010 and the other 2 were 2011.

Obviously it was maxed out when the other 2 were smaller with much less done to them.

Basically someone who has not bought their house in the last 10 or 15 years can only have a vague guess of the value.

It's a self assessment tax so you are responsible for the figure.

You're Band Drico by the way

[johng]

oh. in that case I'll go with your assessment. seems favourable as I know someone who bought a house on his road at the same time he did.

thanks boss

[Grumpy Old Man]

So what happens if you go with the estimate and the estimate is too low? Will they eventually chase you down? Or because it was their estimate will you be exempt from being queried for a period?

House next door to us sold for double the amount of 2 round the corner. I think it was 2010 and the other 2 were 2011.

Obviously it was maxed out when the other 2 were smaller with much less done to them.

Basically someone who has not bought their house in the last 10 or 15 years can only have a vague guess of the value.

It's a self assessment tax so you are responsible for the figure.

You're Band Drico by the way

Actually, you may get away with a Darce, looking at the latest sale.

[Peg Leg]

Guess how much the bank is selling the estate for (bear in mind that there are no debts being passed on to the purchaser)?

Show Spoiler:

€275,000

Seemingly my estate (see above) is not a ghost estate and eligible for the Property Tax????????
There is one additional house built since that photo was taken.

Exempt Housing list Here