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How Big-Data Can Significantly Reduce Your Local Property Tax Bill

There is a new Tax in Ireland, called the Local Property Tax. (LPT). All property owners are being sent an estimate of their property value by the Revenue Commissioners (the Irish name for the taxman). Based off this estimate, the owner will have to pay a tax of between €90 and €1775 per year.

A couple of friends of mine (from Dublin Institute of Technology) have hit upon a very clever idea with Data Analystics/Big Data. They have created a master dataset from a variety of sources (they were very tight lipped about exactly where), cleansed it and are using it to perform analysis of property values all over Ireland.

Their method is top secret, but they did tell me that it involves aspects of kNN (K Nearest Neighbour) and Bayesian Classification in a hybrid which they call “POND”.

Anyway – the outcome is they are offering to see (for free) if they can beat the taxman’s estimate, and if they can you can purchase a full report from them that you can use to save you paying the incorrect tax.

If you are liable for this tax, I’d encourage you to take a look at their website and give it a go: http://freelpt.com