There was a lot of reaction around the country today to an article published in the Irish Independent on the revaluation of Local Property Tax set to take place in 2019. What does this revaluation mean for property owners in Wexford? Read the article below. . .
“The LPT was introduced in 2013 and the amount due was based on prices as of May that year. Homes were due to be revalued in November this year, but last October the Government decided to postpone the revaluation until 2019 amid concern that rising prices would result in significant increases for homeowners. A review of the tax is currently under way.
An analysis of the bills families are likely to face in 2019 is based on data from property website Daft.ie. It compares the ‘average’ asking price for a property in each county in the second quarter of 2013 and the corresponding period of this year. The analysis suggests most households will pay more.
Unless there is a significant ramp-up in house construction, property prices are likely to continue to rise, which will mean people could have to dig even deeper to meet the increased bills in 2019.
Longford homeowners face the highest increase, up 142pc. This equates to an LPT rising from €90 to €218, an increase of €128. Steep rises of 40pc will also be felt in Wexford, Kilkenny, Westmeath and Offaly. Rates remain flat in Laois and Carlow.
House prices have increased by 47pc in Meath, where an average home now costs €222,000. This will correspond to an LPT increase of around 28.6pc. In Kildare, where prices rose 43pc to €226,000, the LPT will go up €59, an increase of 18.7pc.
For three-bed semi-detached homes, many counties will see a 150pc increase in the LPT. Homeowners in Offaly, Westmeath, Laois, Carlow, Kilkenny and Wexford can expect to pay €225 a year, up €135 each. In Louth, an increase of 145.6pc is expected, up €131.”