Homeowners are obliged to submit an estimated value of their property to Revenue.
Around 360,000 homeowners say their property is worth less than the Revenue estimation.
More than 500,000 say their property is worth less than €200,000, and will have to pay just €90 in Local Property Tax, according to the Irish Independent.
A recent survey found the majority of people believe LPT is unfair, and should be scrapped.
John McCann, from MCM Accounting in Tullamore, says homeowners are obliged to submit the assessment: