REVENUE HAS LAUNCHED a new website showing property values around the country, which will be used to calculate how much property tax homeowners will have to pay.
The property valuation guide, which can be seen here, gives an estimated price for properties in a given location, rather than specific valuations for individual properties.
The website advises users that there are always properties in an area which will be worth more or less than the average.
Revenue said the valuation is based mainly on the market value of houses in the area sold in the past three years, adjusted for price movements over time.
Users are asked to select their property location, their property type (for example, semi-detached, bungalow, terraced) and whether or not it was built before 2000.
It then displays a map where users have to zoom in closely in order to see the valuation band assigned to their property. This value band will be used to confirm how much property tax a homeowner will pay.
The website warns users that they will have to factor any exceptional factors that could affect the value of the house when they assess how much it is worth.
“If you follow this guidance honestly and if the guidance is indicating a reasonable valuation for your property, Revenue will accept your assessment,” the site says.
The property tax was announced in Budget 2013 and comes into effect from 1 July this year. The tax is paid on the market value of a residential property.
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