Written answers
Tuesday, 17 January 2017
Department of Finance
Property Tax Deferrals
Niamh Smyth (Cavan-Monaghan, Fianna Fail)
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283. To ask the Minister for Finance the number of persons in counties Cavan and Monaghan that availed of the option to have their property tax deferred until 2018; the reason stated for this deferral; and if he will make a statement on the matter. [1450/17]
Michael Noonan (Limerick City, Fine Gael)
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Part 12 of the Finance (Local Property Tax) Act 2012 (as amended) provides for a deferral or partial deferral (50%) of LPT where certain specified circumstances exist. These circumstances include 'Income Level', 'Hardship', 'Personal Insolvency' and 'Personal Representative of a Deceased Person'.
Once granted, a deferral normally remains in place for the duration of the 'valuation period', which is currently 1 May 2013 to 31 October 2019. However property owners can opt to pay the outstanding liability at any time and discontinue with the deferral. Where a deferral is in place, the outstanding liability remains as a charge on the property and must be paid before a sale or transfer can be completed. Interest is also charged on the deferred amount at a rate of 4% per annum.
The table sets out the numbers of deferrals that are currently in place in Counties Cavan and Monaghan.
Local Authority | Income Levels/Hardship | Personal Insolvency | Rep. Deceased Person | Total |
---|---|---|---|---|
Cavan | 821 | 15 | 13 | 849 |
Monaghan | 656 | 10 | 15 | 681 |
Finally, Revenue has recently published detailed LPT statistics in respect of 2016, which may be of interest to the Deputy. The information can be accessed via the following link. .
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