Joint Committee on Finance, Public Expenditure and Reform and Taoiseach to begin pre-legislative scrutiny of General Scheme of Finance (Local Property Tax) (Amendment) Bill 2021

Speaking ahead of the meeting at 12.30pm in Committee Room 4 of Leinster House, Committee Cathaoirleach Deputy John McGuinness said: “This Bill was published by the Minister early last month and follows a review of the Local Property Tax carried out in 2019. It proposes a revised method for calculation of liabilities on the basis of fairness and that most homeowners will face no increase, and the bringing of certain currently exempted and excluded properties into the taxation system.

“It also provides for the implementation of recommendations of the 2019 inter-departmental review of the LPT Review. These proposals include regularly bringing new properties within the LPT charge, providing that property valuations are reviewed every four years, ending exemptions for first-time buyers and unsold trading stock, increased income thresholds for deferrals and a reduction in the deferral rate of interest. The Committee looks forward to discussing the Heads of the Bill with Minister Donohoe.”

The Joint Committee on Finance, Public Expenditure and Reform and Taoiseach has 13 Members, nine from the Dáil and four from the Seanad.

The meeting in Committee Room 4 can be viewed live on Oireachtas.ie.

Committee proceedings can also be viewed on the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.