HOUSES ON low-lying coastlines or close to rivers which have an experience of flood difficulty will have their home’s history taken into account when being charged the property tax.

The Revenue Commissioners, who will operate the scheme, said homes which had difficulty getting insurance because of their recent vulnerability to flooding – which has reduced the value of their home – would have that reflected in the amount they were asked to pay.

Revenue chairperson Josephine Feehily told the Dáil’s Public Accounts Committee yesterday that the self-assessed tax would allow homes with a particular vulnerability to climate conditions to lower (or raise) the value of their homes accordingly.

The clarification is now to be added to the Frequently Asked Questions on the tax available on the Revenue website.

The first forms asking householders to declare the estimated value of their homes are to be sent on the week beginning March 11.

The forms asked homeowners to estimate the value of their home, and also to claim a deferral for paying the tax if they are eligible to do so – such as if they are the executor of an estate or the home is in the process of being sold.

In cases where homeowners do not submit an estimate, Revenue’s own estimate – which is less likely to take account of factors such as a flood risk – will be the default valuation on which the tax will be deducted.

Revenue is making arrangements to allow the tax to be paid in lump sums or to be deducted from PAYE income and social welfare payments were appropriate.

Read: Here is what the new Local Property Tax form will look like