Tuesday, 15 May 2018

Ceisteanna (165, 166)

Pearse Doherty

Ceist:

165. Deputy Pearse Doherty asked the Minister for Finance the estimated cost of abolishing the local property tax; and if he will make a statement on the matter. [21191/18]

Amharc ar fhreagra

Pearse Doherty

Ceist:

166. Deputy Pearse Doherty asked the Minister for Finance the estimated revenue which could be raised by a tax on second and subsequent homes levied at €400 per property. [21193/18]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I propose to take Questions Nos. 165 and 166 together.

Local Property Tax (LPT) is forecast to collect €470 million in 2018. These receipts would be lost if LPT was abolished.

In regard to Question 21193/18, I am informed by Revenue that the Ready Reckoner, available at https://revenue.ie/en/corporate/documents/statistics/ready-reckoner.pdf, shows the estimated revenue which could be raised by a charge on second and subsequent homes. The Ready Reckoner presents separately the estimated yield from additional charges on either owners of more than one property (which would include Local Authorities as well as commercial landlords) or owners of properties indicated to be Non Principal Primary Residencies (NPPRs). The NPPR category would for the most part be composed of rental properties and holiday homes. While the Ready Reckoner does not show the specific costing requested by the Deputy, the yield from a €100 per property charge is shown in the Ready Reckoner and the yield for a €400 charge can be estimated on a pro-rata or straight line basis.