LPT is an annual tax which came into effect in 2013 and is payable on the market value of a residential property. All registered owners are liable to pay this tax on every residential property they own.
LPT is a self assessed tax. The amount you pay depends on the market value of the property as of 01 May 2013. The tax increases with each valuation band.
If you are selling a property this year, you will be liable to pay for the entire year. The tax will then be apportioned between the purchaser and the seller. On closing, you will be reimbursed for the LPT paid from the date of closing until the 31 December.
If you are selling your house in November or December, you will also be liable to discharge the LPT due for the following year. On closing, you will be reimbursed for this amount too.
You can access your LPT details online by using the PPSN to which the property is registered together with the Property ID number and pin. If you do not have these details, you can contact the LPT helpline on 1890 200 255.
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