Eoghan Murphy
Ceist:155. Deputy Eoghan Murphy asked the Minister for Finance if there will be provisions in the property tax for properties (details supplied). [56491/12]
Amharc ar fhreagraTuesday, 18 December 2012
Ceisteanna (155)
Freagraí scríofa
The Finance (Local Property Tax) Bill 2012, as published, provides for exemptions from and deferral of payment of Local Property Tax in certain circumstances. There is no blanket exemption in cases of divorce. A system of voluntary deferral arrangements focused on particular categories of householders will be implemented to address cases where there is an inability to pay the LPT under specific conditions.
Deferrals can only be claimed where the liable person's income is below the relevant threshold. A full deferral is available where:
- Gross income does not exceed €15,000 (single) and €25,000 (couple).
- For income stressed owner occupiers an adjusted gross income limit will apply. Where gross income is below the relevant income limit (€15,000/€25,000) plus 80% of mortgage interest, deferral will be available up to end 2017.
A partial deferral may be available where the income or adjusted income is €10,000 above the income limit (€15,000/€25,000/or adjusted with to permit deferrals of up to 50% of LPT liability. Interest will be charged on deferred amounts at c. 4% per annum (simple interest). Deferred LPT and interest will have to be discharged on the sale/transfer of the property. The deferral system as recommended in the Thornhill report and as modified in the Bill focuses on the ability to pay the tax and is based on the income of the liable person.