HELP - someone must know something about this?

[pat strong]

I've received a DEMAND for back property tax from the solicitor for years 2004 & 2005. Having bought a small apartment in CVO town late 2004, the amount they say I have to pay following revaluation is a further 660 euros. Has anyone else been affected? We had no idea the property was subject to a revaluation and this has come completely out of the blue. Is this normal? Could it happen again? Any information would be greatly appreciated.
Pat

[kteee]

There is a re-valuation of properties going on - as they are sold the value for IMI is being re-calculated.

I'm sure your lawyer can let you know if the amount requested is correct.

[pat strong]

Thanks for reply. Though, I'm so puzzled. Why would the revaluation take nearly 1.5 years and without warning either before purchasing, during or after! Just come to us now and say by the way, we want more money. One of the reasons for buying was because the overheads were low!

[martin]

is this the annual taxes or relating to your purchase?

if its the annual taxes someone I know who moved their place on shore two years ago has in last 5 months been revalued and then they sent a 2 year bill for the annual taxes based on the new revaluation

[tbbr]

Thanks for reply. Though, I'm so puzzled. Why would the revaluation take nearly 1.5 years and without warning either before purchasing, during or after! Just come to us now and say by the way, we want more money. One of the reasons for buying was because the overheads were low!

Why didn,t your estate agent or lawyer say anything at the time ?

But seriously there are plenty of of information scources avalable, one is the Resident which can be read on line and covers most of these subjects even if briefly.

[biffa]

This thread is LIVE on two Forums - General and here so I copy this post from the General:

Hi Pat

Without benefit of seeing the paperwork the problem arises because when you bought in 2005 that triggered a revaluation under the new valuation scheme. The new valuation is higher than the old and although you will now pay a maximum of 0,5% on the value it has obviously left some back tax to pay.
If your lawyer had been canny he/she would have foreseen this, estimated what the new value would be and retained some funds from the previous owner at least to pay 2004. If you bought during 2005 then you are liable for the IMI for that year anyway. Whoever owns a property on 31 December is liable for the IMI in that year - payable the next.
Best to pay it before end of this month to avoid interest and if you know the previous owners politely ask them to at least pay their portion for 2004.

[pat strong]

Hi
Thanks so much to everyone for the responses - really appreciate the time and trouble taken to give more information.
pat