Ireland: Revenue Department will use the mapping database GeoDirectory to evaluate the value of homes for payment of the local property tax, announced Michael Noonan, Minister of Finance, Ireland.
Noonan further said that the Revenue Commissioners will only evaluate those properties for tax where there is a dispute about valuation provided by a homeowner.
Guidance on value assessment is being prepared and will be sent out “as soon as possible”.
He said a range of data sources is being analysed to assist in providing valuation guidance including stamp duty records and “other sources of recent property valuations data”.
The minister confirmed that the GeoDirectory, produced by Ordinance Survey Ireland and An Post, will also be used.
The database provides information on property location and type as well as distance from a series of key amenities and services, including transport, health, education, retail and emergency services.
GeoDirectory was jointly established by An Post and Ordnance Survey Ireland (OSI), in 2012, to create and manage Ireland”s only complete database of commercial and residential buildings.
The database has helped in assessing risks, streamlining logistics and maintaining updated land records. According to the GeoDirectory database, the new buildings in 2012 consisted of 10,919 residential buildings, 1,245 commercial buildings and 377 dual-purpose buildings with both residential and commercial components.
As many as 12,541 new commercial and residential buildings were recorded across the country in 2012 – a 2pc increase on the previous year.
Source: The Journal