buying a house that may have an undervalued Property tax rat

Hi, I’m buying a house that has a property tax band.

I’m paying more for the house , which will push it into the next band.

So it’s possible that the vendor undervalued the property. The property is in the band until 2016.

How is liable if revenue come back and claim the house is undervalued at a later date?

It’s not unreasonable that the property could have increased in value by one band since May 2013. In any case, worst case scenario is 50 euro a year extra in property tax for a couple of years. Peanuts compared to what you’re paying for the house.

Have you reviewed the PPR for transactions on similar properties in early 2013? There may be more than enough justification for the RPT valuation.

If it’s the case that the value of the property has gone up since the RPT valuation last spring the the valuation as at May 2013 stands until 2016, if the property was deliberately undervalued for the RPT then I’d do a bit of research into transactions in the area (as mentioned) and check with revenue (hypothetically) as to who is liable if their valuation check finds fault subsequent to your purchase. I’ve a sneaking suspicion it will be the new owner (ie owner at the time of the corrected valuation)