Dáil Éireann Debate, Wednesday - 17 June 2015
73. Deputy Terence Flanagan asked the Minister for Finance if he has concerns that Dublin property owners will have to pay a substantial amount of local property tax (details supplied); and if he will make a statement on the matter. [24123/15]
View answerI am very conscious of the concerns of homeowners, particularly those in urban areas, as regards increasing property prices and the effects this would have on their LPT liabilities.
With a view to addressing these concerns, I have asked former public servant Dr. Don Thornhill, who chaired the 2012 Inter-Departmental Group which designed the Local Property Tax (LPT), to conduct a review to consider, and make recommendations, on the operation of the LPT, and any impacts on LPT liabilities due to property price developments.
In particular the Review will have regard to:
- Recent residential property price developments,
- The overall yield from LPT and its contribution to total tax revenue on an ongoing basis, and
- The desirability of achieving relative stability, both over the short and longer terms, in LPT payments of liable persons.
It is intended that the Review be presented to me no later than summer 2015, with a view to consideration of any recommendations therein in the context of the Budget.
