Surveyors remind homeowners that Revenue estimates are not Property Valuations

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Today: The Society of Chartered Surveyors Ireland (SCSI) has reminded homeowners that the tax liability figure contained within the Local Property Tax return being issued by Revenue to over 1.6m households nationwide does not constitute a valuation of their property.

 

The SCSI said that it was important that homeowners were aware of this and highlighted the requirement on homeowners to conduct their own self-assessment of their property value using various online sources and comparables.


Roland O’Connell, President of the Society of Chartered Surveyors Ireland said “In order to provide some guidance to homeowners, Revenue has provided an estimate of the average band that properties in a particular area could fall into.

 

However, homeowners should be made aware of the fact that the figure contained within the return they receive from Revenue is simply an estimation based on averages and in no way constitutes a valuation of their property. If homeowners simply pay the estimated figure provided by Revenue they are at risk of under-or over valuing their property.

 

To avoid confusion and potential repercussions, our advice is to homeowners is to take the necessary steps to arrive at a value that they believe their property is worth using the many tools and calculators available online.” O’Connell concluded.