Revenue have launched their online interactive property valuation guide. This map based guide is supposed to help people work out their property values for the property tax.
The interactive guide only provides average indicative values for various property types in an area.. e.g. detached, semi-detached, apartment, etc. based on the age of the property and the average price of the type of property for the general area.
You first have to select a County and a type of house and if it was built before or after 2000. Then a map is displayed with areas of colour coded property values. You can then zoom in to your electoral area on a map – and you will be shown an average value for houses of that type in your area. The colours used are hard to distinguish – but if you click on an area on the map a pop up box displays the values as text.
The “valuations” are mainly based on house sale prices since 2010 from stamp duty records. Revenue also did 1300 “professional” valuations in some areas to provide extra data where there were shortages of sales.
The online tool is not meant to be used to accurately value each individual house – you are supposed to use the online guide to help you assess the value yourself. The valuation data does not have any information about the number of bedrooms in a house of the floor space or the level of finish – so it cannot be accurate for every house.
See more here on our Analysis of Revenue Valuation Tool
You could also try and estimate the value of your house using a simple calculation based on price changes since 1980 . Price Changes Calculator
Just because the online “heatmap” as it is being called – tells you that a detached house in your area is worth between €150,00 and €200,000 – it doesn’t mean that you have to use this valuation. You can value your house higher or lower if you think it is correct to do so Check it out here : Revenue Online Valuation Guide
Revenue’s guidance says that “if you feel that the guidance is not indicating a reasonable valuation for your property, you should make your own assessment. You are responsible for ensuring that you choose the correct value band for your property.”
Your home could be bigger or smaller than others that have recently sold near you , extra items like a garage, conservatory, insulation, interior finish will affect the real value of homes.
You don’t have to be exact with your valuation because all you need to select on the Property Tax form is the valuation band (1 to 20) that your property falls into. See Property Tax Valuation Bands Here .
If your property is worth over €1 Million – then you do have to give an exact valuation figure.