Local Property Tax (LPT)

Local Property Tax (LPT) is Ireland’s annual tax on residential property, paid by the owner on 1 November each year. It is self-assessed — the owner declares the property’s market value via Revenue’s online portal and pays a tax derived from that valuation, currently revalued on a four-year cycle.

The headline LPT rates: 0.1029% on the portion of value up to €1.05 million, and 0.25% on the value above that, broken into 19 valuation bands for the bulk of homes. Local authorities can apply a Local Adjustment Factor of up to ±15% (raising or lowering the rate set by Revenue), and the chosen factor is published each September for the following year.

LPT is a small but persistent landlord cost in addition to mortgage, agent fees and maintenance — it is deductible against rental income for tax purposes. New properties are exempt from LPT for the first valuation period after first occupation; properties in pyrite or mica defective-concrete schemes are also exempt while remediation is ongoing.

Use the rental yield calculator to factor LPT into a buy-to-let return calculation, or the buy vs rent calculator to compare ownership costs including LPT to rent.