Dáil Éireann Debate, Tuesday - 8 July 2014
487. Deputy Barry Cowen asked the Minister for the Environment, Community and Local Government if 80% of the deferrals sought on the local property tax will be retained by the local authority when they are paid. [29322/14]
View answerUnder the Finance (Local Property Tax) Act 2012, as amended, commencing this year, the Minister for Finance will pay into the Local Government Fund an amount equivalent to the Local Property Tax paid into the Central Fund during that year. Accordingly, any deferrals paid in 2014 and subsequent years will be part of the Local Property Tax income for that year.
In terms of local retention of Local Property Tax, the Government has indicated its intention to move to 80% retention of the Tax from 2015. A decision to allow local authorities to retain 80% of LPT collected locally and the power to vary LPT rates will facilitate further implementation of the local government reform programme, a core element of which involves greater devolution to the local government sector, through supporting enhanced local decision making on spending priorities.
My Department will continue to work with local authorities to ensure that they have an appropriate level of information, including in relation to LPT retention, to facilitate their budget processes.
