Government announces review of local property tax
The government has announced a review of the local property tax (LPT).
Prices at the moment are based on valuations in 2013, with property prices spiking since then.
They’re due to be re-evaluated in 2019 meaning people could face a much larger bill.
Ahead of this Finance Minister Paschal Donohoe has started a review that will look at the best way to manage the property tax in the future.
“Even though it would be 2020 before LPT liabilities would be affected by any property revaluations, it is important that the Government is able to make its position clear in relation to LPT in a timely way so that households will be aware of its plans for the tax in advance of the November 2019 revaluation date and the associated 2020 and beyond LPT liabilities,” said Mr Donohoe.
“The current review of the LPT will be informed by the principle of achieving relative stability in the LPT payments of those liable for the tax and provide clear direction on the likely payments faced by households in 2020.”
