Sir, – I asked a Revenue Commissioners employee on the telephone: if I value my house as accurately as possible and pay tax at the appropriate band and if subsequently the house is sold for a considerably lower figure, would I receive a tax rebate? I was told “No”, as this was “not covered in the legislation”. Why not? It is entirely possible that house prices could fall further or be lowered as a result of needing a quick sale. This is both unfair and surely signals a change in tax legislation.
After all, if I find myself in arrears from an undervaluation the Revenue can ultimately dip its fingers into my bank account to recover underpayment (with penalties added, of course). I believe I will still obtain a rebate if I overpay income tax, so why does the same approach not hold for property tax? It appears that this is the latest manifestation of rip-off Ireland. – Yours, etc,
JOHN BURNETT,
Upper Kilmoney Road,
Carrigaline,
Co Cork.