Vol. 403 No. 8
77 Mr. Noonan (Limerick East) asked the Minister for Finance the estimated yield to the Exchequer in 1991 from reducing the thresholds for liability to residential property tax to (a) a property value of £25,000, (b) an income of £10,000.
I have been advised by the Revenue Commissioners that comprehensive data are not available in regard to the relationship between the market value of houses and household income. It is difficult, therefore, to provide a firm estimate of the yield from residential property tax based on thresholds of market value £25,000 and household income £10,000.
Subject to this qualification, and based on a number of assumptions, it is estimated that, under current legislation, the thresholds mentioned would produce a yield of £112 million in 1991.
