Michael McGrath (Cork South Central, Fianna Fail)
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91. To ask the Minister for Finance if home owners who have been affected by recent flooding can submit a revised valuation of their property in respect of their local property tax liability for 2016 or if the May 2013 valuation continues to apply and therefore, the only relief available to them is a deferral; and if he will make a statement on the matter. [1585/16]

Michael McGrath (Cork South Central, Fianna Fail)
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92. To ask the Minister for Finance the process by which a home owner can seek a reduction in local property tax liability for 2016 if that person has been affected by flooding; and if he will make a statement on the matter. [1586/16]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 91 and 92 together.

Section 13 of the Finance (Local Property Tax) Act 2012 (as amended) sets out how residential properties are to be valued for LPT purposes.

The current valuation date of 1 May 2013 is now valid until 31 October 2019 on foot of a recent legislative amendment (Finance (Local Property Tax) (Amendment) Act 2015). The declared valuation is not affected by any repairs or improvements made to a property or by any general increase or decrease in property prices that might occur over the course of the valuation period.

While the LPT Act does not provide for revised or reduced valuations on foot of occurrences such as the recent flooding, Revenue has advised that initial analysis indicates that the majority of properties situated on affected 'flood plains' are already valued in the lowest Valuation Band and the question of a reduction in value would therefore not arise. The annual LPT liability for properties in the lowest valuation band is €90.

Part 12 of the LPT Act provides for Deferral, and Partial Deferral (50%) schemes that can apply to liable property owners under certain conditions including, 'Income Level', 'Hardship', 'Personal Insolvency' and also to 'Personal Representative of a Deceased Person'. The deferred tax remains as a charge on the property and must be paid before a sale or transfer can be completed.  Interest is charged on the deferred amount at a rate of 4% per annum and the duration of the relief normally coincides with the valuation period (1 May 2013 to 31 October 2019).

Revenue recently announced that it is making the Deferral and Partial Deferral relief available to property owners, in respect of the 2016 liability, whose principal private residence was flooded during the recent bad weather. The relief is available to the people affected providing they are in receipt of assistance through the Department of Social Protection Humanitarian Relief Fund.

Property owners wishing to avail of the relief should contact the LPT Helpline at 1890 200 255 to make the necessary arrangements.