Dáil Éireann Debate, Thursday - 13 July 2017
231. Deputy Ruth Coppinger asked the Minister for Finance the net cost of abolishing the local property tax and replacing it with a landlord tax for second and subsequent properties based on existing rates of local property tax plus an additional €600 for the second property and €1,000 on all subsequent properties. [34540/17]
View answer232. Deputy Ruth Coppinger asked the Minister for Finance the estimated cost in 2018 of abolishing the local property tax. [34547/17]
View answerI propose to take Questions Nos. 231 and 232 together.
In relation to Question 34540/17, I am informed by Revenue that a tax on second and subsequent properties based on existing rates of LPT plus an additional €600 for the second property and €1,000 on all subsequent properties, would have an annual yield in the region of €284 million. This is based on those properties indicated to be non-principal primary residencies by their owners in their LPT returns.
In relation to 34547/17, I am informed that the estimated cost of abolishing the Local Property Tax (LPT) in 2018 would be in the order of €460 million, based on my Department’s latest official forecast of LPT receipts for next year.
