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Revenue to Address Under Declaration of Property Value

Revenue is reviewing a system that can see householders having to pay extra property tax before they can close a sale on their homes.

It follows reports that hundreds of people had to pay up when their agreed sale price is higher than the value they estimated for the tax.

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Revenue says a clearance process only applies if the price is 15 per cent higher than the upper end of the tax band in which the property was declared.

Spokesperson Anne Looney says they want to make sure people were upfront about their original declaration.

 

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