Finance (Local Property Tax) Act 2012
Amount of local property tax.
F59[17.—(1) In this section, a reference to the number of the band into which a relevant residential property falls is a reference to the number specified in column (1) of the Table to this section opposite the valuation band specified in column (2) of that Table into which the chargeable value (rounded down to the nearest euro) of the property falls.
(2) Where a relevant residential property falls into band 1, the amount of the local property tax to be charged in respect of the chargeable value of that property shall be €90.
(3) Where a relevant residential property falls into band 2, the amount of the local property tax to be charged in respect of the chargeable value of that property shall be €225.
(4) Where a relevant residential property falls into any of the bands 3 to 11, the amount of the local property tax to be charged in respect of the chargeable value of that property shall be the amount represented by A in the formula—
A=B*C
where
B is the mid-point, specified in column (3) of the Table to this section opposite the valuation band specified in column (2) of that Table into which the chargeable value (rounded down to the nearest euro) of the property falls, and
C is 0.001029.
(5) Where a relevant residential property falls into any of the bands 12 to 19, the amount of the local property tax to be charged in respect of the chargeable value of that property shall be the amount represented by A in the formula—
A=(B*C)+[(D-B)*E]
where
B is €1,050,000,
C is 0.001029,
D is the mid-point, specified in column (3) of the Table to this section opposite the valuation band specified in column (2) of that Table into which the chargeable value (rounded down to the nearest euro) of the property falls, and
E is 0.0025.
(6) Where the chargeable value of a relevant residential property exceeds €1,750,000, the amount of the local property tax to be charged in respect of the chargeable value of that property shall be the amount represented by A in the formula—
A=(B*C)+[(D-B)*E]+(F*G)
where
B is €1,050,000,
C is 0.001029,
D is €1,750,000,
E is 0.0025,
F is that part of the chargeable value of the property that exceeds €1,750,000, and
G is 0.003.
(7) The amounts specified in columns (2) and (3) of the Table to this section are amounts in euro.
(8) Where—
(a) a local authority, or
(b) an approved housing body,
is a liable person in relation to a relevant residential property, the property shall be deemed to fall into band 1.
TABLE
|
Band number (1) |
Valuation band (2) |
Mid-point of valuation band (3) |
|
1 |
1-200,000 |
- |
|
2 |
200,001-262,500 |
- |
|
3 |
262,501-350,000 |
306,250 |
|
4 |
350,001-437,500 |
393,750 |
|
5 |
437,501-525,000 |
481,250 |
|
6 |
525,001-612,500 |
568,750 |
|
7 |
612,501-700,000 |
656,250 |
|
8 |
700,001-787,500 |
743,750 |
|
9 |
787,501-875,000 |
831,250 |
|
10 |
875,001-962,500 |
918,750 |
|
11 |
962,501-1,050,000 |
1,006,250 |
|
12 |
1,050,001-1,137,500 |
1,093,750 |
|
13 |
1,137,501-1,225,000 |
1,181,250 |
|
14 |
1,225,001-1,312,500 |
1,268,750 |
|
15 |
1,312,501-1,400,000 |
1,356,250 |
|
16 |
1,400,001-1,487,500 |
1,443,750 |
|
17 |
1,487,501-1,575,000 |
1,531,250 |
|
18 |
1,575,001-1,662,500 |
1,618,750 |
|
19 |
1,662,501-1,750,000 |
1,706,250] |
Annotations
Amendments:
F59
Substituted (22.07.2021) by Finance (Local Property Tax) (Amendment) Act 2021 (31/2021), s. 24, commenced on enactment. This amendment applies only in respect of the year 2022 and each subsequent year as provided by 31/2021, s. 3(d).
Editorial Notes:
E14
Previous affecting provisions: subs. (2) amended, subss. (5), (6) inserted and table amended (13.03.2013) by Finance (Local Property Tax) (Amendment) Act 2013 (4/2013), ss. 5(d), (e), (f), 7(a), commenced on enactment; section substituted as per F-note above.