Local Property Tax is a self-assessed taxation for which property owners must determine the market value of any property for which they are the liable person.
You must determine the market value of each property as at the valuation date of May 1, 2013. This valuation will not be affected by:
• Repairs or improvements made to your property
• General increase or decrease in property prices, during this period
• Any event after May 1, 2013, that negatively impacts on your valuation, for example, flooding or erosion.
• The next valuation date will be on November 1, 2021.
• You must declare the valuation for your property in your LPT1 return.
If you do not file your LPT1 return, the Revenue will estimate your liability to LPT. When you file your LPT1 return, the Revenue will remove the estimate.