I am informed by Revenue that Local Property Tax (LPT) collection in 2018 is projected to be approximately €470m. This includes variations from the central rate by Local Authorities under the Local Adjustment Factor (LAF). LAF decisions for 2018 are included in Revenue’s LPT Statistics for 2018 available at: https://www.revenue.ie/en/corporate/information-about-revenue/statistics/local-property-tax/quarterly-reports-2018/local-property-tax-april-2018.aspx.
Adjusting this forecast to assume that all Local Authorities set their LAF to match the central rate, it is tentatively estimated the yield from LPT would be €500m. This would represent the notional loss to the Exchequer under the scenario outlined by the Deputy.