News Roundup: Property tax crackdown, Ulster tracker relief and new homes call

In today's news roundup, we see the revenue commission cracking down on undervalued property tax homes, Ulster Bank extend trackers for 10 years if homeowners want to move and IPAV auctioneers and estate agents group call for VAT relief on new homes to help builders break ground.

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Property tax bands – where does your house belong?

The Revenue are cracking down on houses that were deliberatly undervalued in 2013 when the property tax was introduced. At the time it was up to individual homeowners to confirm the band in which they belonged. However are believed to have undervalued their homes in an effort to pay less tax.

More here from Newstalk…


 

Ulster Bank allows movers to keep tracker-type deal for longer

Ulster Bank is to allow homeowners with tracker mortgages to keep their rate for 10 years if they want to move. Up until now, Ulster Bank allowed tracker movers to keep the low rate only for five years.

This helps thousands of people who are reluctant to move for the fear they will lose their tracker rate.

More here from the Independent…


Auctioneers urge Govt to reduce VAT for new builds

The crowd of voices are rising for the government to reduce or waive VAT on new build homes. Local authority levies are also too high. Pat Davitt of IPAV said:

So if somebody builds a new property, the cost is roughly in the region of €200,000 to €220,000. In most country areas, the price of that property is valued at the moment somewhere in the region of €100,000 to €150,000.

So there is a massive difference there and ew’re trying to bring doen the building costs rather than bring up the price of the houses.”

More here from BreakingNews.ie…