Tom Fleming (Kerry South, Independent)
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209. To ask the Minister for Finance the financial concessions or exemptions from property tax for householders in flood prone areas (details supplied); and if he will make a statement on the matter. [20385/13]

Michael Noonan (Limerick City, Fine Gael)
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The Finance (Local Property Tax) Act 2012 (as amended) sets out how a residential property is to be valued for Local Property Tax (LPT) purposes. While there are no specific exemptions or financial concessions from LPT for householders in flood prone areas, the following information would be of relevance in these cases. As LPT is a self-assessed tax, it is a matter for the property owner to calculate the tax due based on his or her assessment of the market value of the property. For the purposes of LPT, properties valued under €1 million are organised into valuation bands - an initial band from €0 to €100,000 and between €100,001 and €1 million a range of €50,000 in each band - and property owners will not be required to provide a precise value for their property.

The Revenue Commissioners have prepared valuation guidance which, together with the owner's own knowledge of her/his property, will assist in assessing its value. The guidance includes an on-line guide that will provide indicative property valuation bands depending on the property type, age and location. If a property has certain unique features, is smaller or larger than the average for the area, is in a significantly poor state of repair or has exceptional features, the owner will have to factor this into her/his assessment of the valuation of the property. In this context, location and the risk of flooding are factors which are likely to impact on the market value of a property and which a property owner would generally take into account in valuing the property. Where a property owner feels that the Revenue guidance is not indicating a reasonable valuation for their property, s/he should make her/his own assessment. I am advised by Revenue that further information on this issue has been published by way of Frequent Asked Questions, which can be found at on their website at.

As I have previously advised the House, where the Revenue guidance is used in an honest manner, the property valuation made by a property owner will not be challenged by Revenue in accordance with its normal Customer Service Charter.