Dáil Éireann Debate, Tuesday - 29 May 2018
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Property Tax Data
205. Deputy Pearse Doherty asked the Minister for Finance the estimated cost to the Exchequer if the local property tax was abolished, ignoring all adjustments made at county level, that is, if all counties charged an unadjusted rate; and if he will make a statement on the matter. [23696/18]
Amharc ar fhreagraI 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.
