Pearse Doherty
Question:102. Deputy Pearse Doherty asked the Minister for Finance the estimated amount of tax that would be raised by a tax on second and subsequent homes levied at €400 per property. [14868/17]
View answerTuesday, 28 March 2017
Questions (102, 108)
Pearse Doherty
Question:108. Deputy Pearse Doherty asked the Minister for Finance the estimated net cost to the Exchequer of abolishing the local property tax. [14874/17]
View answerWritten answers
I propose to take Questions Nos. 102 and 108 together.
In regards to Question No. 108, I am advised by Revenue that the Local Property Tax (LPT) is forecast to collect €460 million in 2017. These receipts would be lost if LPT was abolished. It should be borne in mind that under the fiscal rules of the preventive arm of the Stability and Growth Pact, this policy choice would use up available fiscal space unless offset by either discretionary revenue increases or expenditure reductions elsewhere.
In regards to Question 102, I am advised by Revenue the estimated amount that would be raised by a tax on second and subsequent homes levied at €400 per property would be €104 million. This is in addition to yield currently collected through LPT. The additional yield is based on a €400 charge levied on all residential properties indicated as non-principal primary residencies in Local Property Tax returns.