Increasing Band Width

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From top: Minister for Finance Paschal Donohoe and Minister Public Expenditure and Reform Michael McGrath during a press briefing on the Economic Recovery Plan in Government Buildings this morning; The new band charges could be presented to homeowners next January and February

This morning.

Government Buildings.

Minister for Finance Paschal Donohoe gave some detail to his plan to increase Local Property Tax….

…Under the changes, all properties will be revalued on 1 November this year.

According to the CSO, house prices nationally have risen by 90% on average since their low point in 2013.

According to an analysis by the Department of Finance, 11% of property owners may see a decrease in their tax, while 53% may see no change.

It said 33% may see their tax go up one band, up to €100, while 3% may see a jump of two bands or over €100.

The exemptions for people who bought in “ghost estates” will lapse, while exemptions for people in pyrite damaged homes in Limerick and certain eastern counties will be phased out.

…Income thresholds for deferrals have been raised to €18,000 for a single person and €30,000 for a couple.

Local Property Tax valuations to be reviewed every four years (RTÉ

Julien Behal Photography/RollingNews

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9 thoughts on “Increasing Band Width

  1. Darce

    so this is how they respond to people complaining about Ireland being the most expensive place in Europe to live? is it punishment for speaking up? why do they have such contempt for the public?

  2. Zaccone

    SF are really exposing themselves as populists willing to say anything on this. Any actual left wing party would be in favour of taxing €1mn+ mansions.

    The only argument against it, that people can be asset rich but cash poor, can be completely negated by giving people the option to defer paying the tax on their primary residence and let it build up until they sell it.

  3. Joe

    Only the slimiest form of political pond life supports regressive taxation.

    Fine Gael and FF along with their toilet paper the Greenwash party loves regressive taxes like the incorrectly name Local Property Tax. They are designed so the rich and wealthy pay far less tax than their poorer neighbours.
    Taxing a family home that all taxes have been paid for in its purchase is totally immoral and with LPT being solely based on a persons address it has no rationale or equitable fairness at all.

    All taxation should be fair and equitable with the wealthier paying more in proportion to their wealth
    It is quite simple if I earn 100,000k a year and pays 1% the state collects €1000
    If my neighbour earns 30,000k a year and pays 1% the state collects €300

    FFFGGP’s imposition of regressive taxes like LPT of will increase the electorates hatred for them and they will be extinguished in the next election.

    1. Zaccone

      “They are designed so the rich and wealthy pay far less tax than their poorer neighbours.”

      “All taxation should be fair and equitable with the wealthier paying more in proportion to their wealth”

      Have you actually looked at the rates of Local Property Tax, the second image in this very post? Its literally the wealthier someone is the more they pay in proportion to their wealth….

    2. Rob_G

      “All taxation should be fair and equitable with the wealthier paying more in proportion to their wealth”

      You will be pleased to learn that Ireland has the 2nd most progressive personal tax system among all the OECD nations.

      “Only the slimiest form of political pond life supports regressive taxation.”

      I’m not sure you know what ‘regressive’ means; people owning more expensive houses pay more, people earning in less expensive houses pay less, those unable to afford to buy a house pay nothing…

  4. Louis Lefronde

    By their own admission house prices have gone up by 90% in 8 years (CSO) statistic. Think about it? Leaving aside stellar equities almost nothing goes up by 90% unless there’s something underneath that’s fundamentally wrong.

    A country with a population of 4.5 million with a landmass of 70,000 square miles and a density of 70 per square km. Compare the average house and apartment prices in other European countries with greater population densities.

    You don’t have to have a degree in economics, finance or indeed law to spot anti-competitive practices at work.

    You just know if something doesn’t make sense, it’s nonsense. Strip back all the property pr and the truth is plain for all to see or at least want to see. When Government policy is effectively dictated by a small collection of politicos, officials, lobbyists, tax advisors, financiers and developers, you have in effect a cartel. Plain and simple.

    There are huge landbanks in the commuter belt which have been hoarded for years, derelict buildings and sites in the city left vacant. Hight restrictions etc and planning regulations that are shady at best.

    Rather than raise the taxes on the squeezed middle, it’s time for an asset based land and site tax. If the cartel and their friends in the MSM don’t like it or won’t do it, Then you know the answer. Demand it!

    1. Cian

      By their own admission house prices have gone up by 90% in 8 years

      But how much have house prices gone up in the last 11 years? about 25%?

      I do agree with the other point – tax vacant properties; tax empty sites.

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