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Indo on the Property Tax

The Indo is reporting on the ESRI’s property tax research.

A property tax is currently being considered by the Government, as it strives to meet its €6bn target of cuts and taxes for next year’s Budget.

Sources have indicated that it is almost certain to figure prominently in the four-year budgetary plan to cut the deficit, which is set to be unveiled in the next few weeks.

The tax would cost €80 a month for the average household based on a property value of €240,000.

The ESRI have taken on the Smart Taxes idea of a multi-annual waiver for bubble-buyers, with exemptions also for low-income earners.

Homeowners who bought their house and paid stamp duty in recent years would be given a waiver, as they would be regarded as having already paid a property tax. Those on low incomes and people getting social welfare benefits would be exempted from the payment.

Posted in News, Site Value Tax.