Minister Noonan answered a question in the Dáil this week on this issue, which we reproduce below.
“The Finance (Local Property Tax) Act 2012 (as amended) provides that the owner of a residential property on the ‘liability date’ is responsible for the payment of LPT for that year. With the exception of the 2013 half year the ‘liability date’ is always 1 November in the preceding year. For example the ‘liability date’ for 2017 was 1 November 2016.
Where a financial institution enforces its security over a property by taking legal ownership as a mortgagee in possession (receiver), it becomes liable for LPT from the next ‘liability date’ and the owner is displaced as the liable person. However where the legal transfer of ownership is not fully complete, responsibility for payment of LPT remains with the transferor (owner). However it can be the case that a receiver may agree with the owner to assume responsibility for payment of LPT in advance of the transfer of the property depending on the particular circumstances.”