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House Price Crash Forum

Smithfield

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  1. Ill have a look at the tribunal website, see how they are applying rates.
  2. I was just looking at 3 story four/five bedroom terraces in stranmillis. One is for sale at £100k (would sell for less). These now go for £90k-120k (depending on condition), most are former rentals with work needed to bring them up to HMO standard. Now the thing is these houses are currently valued at a capital value of 230k+, for a house selling at maybe 90k to be paying rates at a level of 145% higher than market can't be right. Can someone explain this to me? Capital value is linked to market value and therefore rates payable?, Is there a procedure to have this re-valued to a correct market (capital value) to within some kind of sensible level? If not... Either the valuation office of lpsni isn't doing its stated purpose correctly (valuing properties for the purposes of rates owed). Or ... if there isn't a procedure to be correctly revalued does a policy therefore exist to over value properties to raise taxation. If so, IMO thats LPSNI failing to act within its statutory powers by having a policy which breaches the criteria set out for the collection of rates? (I'm not talking about in terms of judicial review, just in a general sense). I'd be interested in peoples, thoughts and experiences with this and what the chances are of having a property revalued? ombudsman etc.
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