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Property Taxation Deferrals

Dáil Éireann Debate, Tuesday - 22 January 2013

Tuesday, 22 January 2013

Questions (203)

Robert Troy

Question:

203. Deputy Robert Troy asked the Minister for Finance if he will outline the income margins that will be set to allow home owners to defer payment of the property tax; and if he will make a statement on the matter. [2921/13]

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Written answers

I am advised by the Revenue Commissioners that Part 12 of the Finance (Local Property Tax) Act 2012 sets out the conditions for deferral of the charge. Where the residential property is the sole or main residence of a liable person and their estimated gross income from all sources does not exceed €15,000 for a single person or €25,000 for a couple during the year covered by the return, they will be eligible to apply for full deferral of the Local Property Tax (LPT) charge. In addition, for income stressed owner-occupiers who have an outstanding mortgage, an adjusted gross income limit will apply. In these cases, the income thresholds of €15,000 or €25,000 may be increased by 80% of the annual mortgage interest payments. This type of deferral is available until the end of 2017.

Moreover, owner-occupiers may be eligible to apply for partial deferral where the gross income from all sources is less than €25,000 in the case of a single person and €35,000 in the case of a couple. For income stressed owner-occupiers who have an outstanding mortgage, these thresholds may also be increased by 80% of the annual mortgage interest payments. In these cases the owner-occupier will qualify for deferrals of 50% of the LPT liability and the balance of 50% of the tax must be paid.

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