Revenue's property tax estimates wrong on 166,000 houses

The Revenue Commissioners significantly underestimated the number of householders who would value their house at the lowest possible rate for the property tax.

It carried out a detailed study in advance of the introduction of the property tax last year to work out the possible values of houses around the country.

The Revenue only expected around 246,000 homeowners to value their house in the lowest valuation band - €100,000 or less. However, the ...