Deadlines just around the corner: 07 May for Paper Returns and 28 May for Online Returns. Revenue has confirmed that in the last month it has issued letters in respect of 1.6 million properties to homeowners in Ireland, so by now you should have received your LPT pack from the Revenue, comprising your LPT Return, Information Booklet and Notice of Estimate. If not, you’re off the hook and have nothing to pay. Just kidding! You’re not off the hook. At all. If you own a residential property, you still have to file a return and could be hit with interest and penalties if you don’t. Even if the Revenue issued the return for your property to the previous owner/ your dog / that soldier who got hit with the bill for the entire barracks, you are still liable. Revenue has advised that anyone who has not yet received their return should contact them as soon as possible to request the return. There are a few different methods of alerting them. You can call them on 1890 200 255, (353 1 7023049 from outside ROI), or email email@example.com to request your return. Time is running out so if you have not received your return, please take action without delay. Valuations Valuation has been the most fraught and uncertain aspect of this new tax. The most important factor to bear in mind when valuing a property is that Revenue is looking for an honest assessment. It has confirmed that a valuation will only be challenged where it believes that the estimate could not reasonably have been arrived at. Several recommendations have been made as to how best to estimate value. The advice coming from most valuation experts, including the Society of Chartered Surveyors Ireland, is that the comparative method (i.e. comparing the sales price of similar homes sold recently in the area) is the best estimate of current market value. Remember, the Revenue estimate issued to you with the return is purely an estimate and not a valuation. As valuation is on a self-assessed basis you do not need to worry if your valuation differs from the Revenue estimate once your assessment is honest and in accordance with the guidelines.