The deadline to complete your Local Property Tax return is looming.
It has been four years since Revenue asked households to evaluate the price of their home and since then property prices have surged nationwide.
While around half a million households have evaluated the price of their home so far, an estimated 1.5 million households have yet to do so.
The Local Property Tax Return must be submitted by 7th November.
On Newstalk Breakfast, Financial Advisor Karl Deeter said all homeowners should have received a letter or email from Revenue.
“The letter will have a property identifier and a pin number,” he explained.
“With those two things, you just type ‘local property tax’ into Google; it will show you where to go.
“You enter your PPS number [and pin number]; it brings you to a page where you’ll get a menu.
“If you have one house or 10 houses, they’ll all be in there.”
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Once the homeowner updates the information, Revenue will suggest a valuation band for the property.
“If you agree with it, just go ahead,” Mr Deeter advised.
“If you don’t, you can change it; you can make it higher, you can make it lower.
“Then after that, you confirm your details, enter your IBAN and that’s all there is.
“It’s actually really, really fast. It’s as easy as sending an email.”
Annascaul in County Kerry. Picture by: Michael Diggin / Alamy Stock Photo.Mr Deeter continued that while property prices have changed significantly since the last evaluation, there is no requirement that your figure should be exact.
“I think people have an intuitive feel about where their property sits versus the others in their area,” he said.
“The bands can also be quite generous in some cases.
“It’s not the case that they’re looking for you to be specific; nor is it the case that they’re saying what would your particular house sell for today?
“What they’re trying to say is, ‘Where in this area is it?’”
However, he warned that if your estimate is vastly different to other homes in the local area, the council might query it.
“The main thing is, get online and submit the return,” he urged.
Main image: Houses in Dublin. Picture by: PA Wire/PA Images.
