Property Tax

Dáil Éireann Debate, Tuesday - 7 July 2020

Tuesday, 7 July 2020

Ceisteanna (199)

Gerald Nash

Ceist:

199. Deputy Ged Nash asked the Minister for Finance when he plans to bring forward legislation for the local property tax on the basis of fairness as outlined in the programme for Government; his plans to increase the local property tax yield on the basis of fairness in view of the comparative low local property tax yield as cited in the 2019 report (details supplied) by his Department; if he plans to bring the yield of the tax in line with the EU average; and if he will make a statement on the matter. [14595/20]

Freagraí scríofa

Minister for Finance

The Programme for Government "Our Shared Future" adopted by the Government on 27 June 2020 includes a commitment to bring forward legislation in relation to the Local Property Tax (LPT) on the basis of fairness and that most homeowners will face no increase in their LPT liability. In addition there is a commitment to bring new homes, which are currently exempt from the LPT, into the taxation system. Further, all LPT funds collected locally will be retained within the local authority concerned. This is to be done on the basis that those counties with a lower LPT base are adjusted via an annual national equalisation fund paid from the Exchequer.

My Department is examining options for the implementation of these commitments in conjunction with the Revenue Commissioners and relevant Departments. Matters such as the overall LPT yield naturally fall to be considered in that context. I hope to be able to bring proposals to Government soon.