Over 1.5 million people yet to file Local Property Tax valuation

Ellen O'Donoghue

Over 1.5 million people have not filed their Local Property Tax valuation yet.

Homeowners have until the end of next week to revalue their property and indicate how they will pay the tax.

Revenue has requested that homeowners revalue their properties by Saturday and then indicate how they will pay their Local Property Tax by the following week.

However, only 550,000 returns have been filed to date, amid concerns that the tax will have increased significantly due to inflation.

Katie Clair from Revenue told Newstalk that most people's LPT will only increase by around €20 to €30.

"People have asked will they have to pay more, and it is a concern, particularly because of the market price inflation," Ms Clair said.

"But two things have happened: the valuation ban for LPT has widened, and the rate of LPT has actually reduced from 0.1 per cent to 0.09 per cent, so the result of those changes is that the majority of properties will not incur any significant increase in the LPT charge."

Financial Advisor Karl Deeter told Newstalk that Revenue just wants an estimate of the cost of your home.

"It's not a case that like, they’re looking for you to be specific, nor is it a case of them saying what would a house, your particular house sell for today.

"Really what they’re trying to say is, within the mix of things, where in this area is it? You’re not meant to get it to you know, right down to the penny number," Mr Deeter said.

Meanwhile, a technical glitch on Revenue's Local Property Tax portal, which affected some users earlier this week, has been resolved.