I propose to take Questions Nos. 183 and 186 together.
Under the Finance (Local Property Tax) Bill 2012, unpaid Local Property Tax together with any accrued interest will be a charge on the property to which it relates. The Bill does not confer any preferential creditor status on the Revenue Commissioners other than that which they would have in the normal course of events. The usual rule is that the priority of a Revenue charge vis-à-vis other parties who also have a charge on the property will depend on the timing of the various charges. Therefore, in the event of a sale of the property, the proceeds must be used to discharge charges in the order in which those charges arose. The Revenue Commissioners will only have preferential creditor status over a mortgage provider where its Local Property Tax liability was due and payable before the mortgage provider advanced a loan in respect of the property. On that basis deferrals and charges for the Local Property Tax should not have an effect on currently outstanding mortgages.