Tax Data

Tuesday, 27 July 2021

Questions (430)

Richard Boyd Barrett

Question:

430. Deputy Richard Boyd Barrett asked the Minister for Finance the estimated full-year cost of abolishing the local property tax. [41169/21]

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Written answers

I am informed by Revenue that the yield from Local Property Tax (LPT) for 2022 under the revaluation approach set out in the Finance (Local Property Tax) (Amendment) Act 2021 is provisionally estimated to be €560 million (before any Local Adjustment Factors are applied). These yields expected to arise in future years from the forthcoming revaluation of liable properties would be lost if LPT was abolished.