Local Property Tax (LPT) liability
Commercial properties
A commercial property that is fully subject to commercial rates and is not a residential property, is not liable for LPT.
You need to submit a self-assessed property valuation and an LPT Return if:
- the property is used as, or suitable for use as, a dwelling
- and
- is fully subject to commercial rates.
These properties qualify for an LPT exemption and this can be claimed on the LPT Return. For example, a guesthouse that is fully subject to commercial rates would qualify for this exemption.
For properties used for both commercial and residential purposes, LPT is due only on the portion that is not subject to commercial rates. For example, an apartment over a shop is liable for LPT if it is suitable, or used, as a dwelling and is not subject to commercial rates.
A commercial property that is suitable for use as a dwelling and is not subject to commercial rates, is liable for LPT.
Next: Who is liable for LPT?