Revenue checking on home valuations for under payment of property tax

Monday 10 March 2014 21.56
Revenue will use a new system to highlight property where owners have reduced the value below their neighbours
Revenue will use a new system to highlight property where owners have reduced the value below their neighbours

The Revenue Commissioners has announced a system for checking to see if people have deliberately undervalued their homes to reduce their Local Property Tax below what they should be paying.

Officials will use a system that is based on Google Street View and Google Maps to highlight each property where home owners have reduced the value significantly below their neighbours.

"If we find properties like this we will look at it and see if we should challenge it," said Revenue's economist Keith Walsh.

Only officials working with Revenue will have access to the maps and the public will have no access.

The maps will show the average value of homes sold on any street and the values of other homes owners have attributed to their own properties.

It will also show the identity of the homeowners, their PPSN number and whether they have paid the property tax and household charge.

"If people think they have undervalued they will have an opportunity to correct the value online," Mr Walsh said.

If property owners correct the value before the end of March, they can avoid interest and penalties.

Revenue expects to write to people who have deliberately undervalued their home next month.