Property Transfer Duty - Section 32
There is a new duty on owners to notify the local authority of a change in occupation of rateable property under Section 32 Local Government Reform Act 2014.
From 1 July 2014, owners of rateable property are required to notify their relevant local authority when there is a change in the occupation of their property, i.e. where a property is being sold or there is a change in tenancy, including where a property becomes vacant.
Owners must complete this notification within
- 14 days of the change taking place.
- Owners who do not notify the local authority within 14 days will incur a financial penalty. This penalty is an amount equivalent to up to two years of outstanding rates from the previous occupier.
- Any penalty due and outstanding by an owner of relevant property due to non-notification will remain a charge on the property.
All ratepayers are reminded that they are legally required to discharge all commercial rates due from them prior to their departure from a property or prior to the sale or transfer of an interest in a property. Any rates due and outstanding by an owner of relevant property will remain a charge on the property.
Duty on owners/ratepayers in relation to a transfer of property from 1st July, 2014
Section 32 of the Act places:
- An obligation on property owners, or their agents, to notify the Local Authority where an interest in a rateable property is transferred and the person liable for rates changes.
- The person transferring the property, either the owner or occupier, must discharge all rates for which he/she is liable at the date of transfer.
Failure to notify Meath County Council of a change in interest within 14 days of the transfer date, may result in a penalty for non-compliance in that, the owner becomes liable for an amount which is equivalent to the level of outstanding liabilities (up to a maximum of 2 years liability).
This obligation comes into effect on 1st July, 2014.
If you have any further questions or queries regarding property transfer duty, please get in touch using the following details:
Rates Section, Meath County Council
Tel: 046 9097433/7431/7428
An online form is available at: https://www.commercialratesireland.ie/ or the form below can be used.
Transfer of Property Notification Form doc, 585kb