Vol. 397 No. 1
56 Mr. R. Bruton asked the Minister for Finance whether he is satisfied that the new house price index is sufficiently soundly based to be used as the basis for adjusting the thresholds for liability to residential property tax by the Revenue Commissioners; and if he will make a statement on the matter.
The new house price index, which is published quarterly by the Department of the Environment, is calculated from data supplied by building societies, associated banks, assurance companies and local authorities. During 1989 the Trustee Savings Banks and other lending institutions have begun to supply similar data giving the index a broader base than before.
I am satisfied that the index gives a good picture of house price movements for the purposes of the residential property tax. It is broadly based and reflects the up-to-date position in so far as house prices are concerned.
