Noonan: Property tax will not increase at rate of house price rise
Finance Minister Michael Noonan has said that the property tax will not increase in line with rising house prices.
Minister Noonan said that the Coalition will examine ways to assess the levy and whether it should be collected by central Government or managed by local authorities.
He said there will be no "sudden shocks" in the demand for property tax, and that the Government wants to keep the take in line with current levels.
"The big issue, economically and politically on property tax, is that since the valuations were done, property [prices] in Dublin have gone up by about 40% and somewhere averaging elsewhere in the country, somewhere over 20%," he said.
