Thomas Molloy: Being both fair and effective is the challenge for property tax legislators
Thus far Environment Minister Phil Hogan's comments suggest a much more complex system than is used elsewhere globally
Published 05/01/2012 | 05:00
FEW issues have divided the country quite like the Government's plans to introduce a new property tax. While the topic has been discussed in the Dail and around the kitchen table for months now, we still know very little about Environment Minister Phil Hogan's plans.
While many people talk about the introduction of a property tax because homeowners have not paid any annual charge for years, the reality is that Ireland already has property taxes and gathers roughly the same amount of national income from property as most other countries; we just do it differently.
This year, the Government will be collecting property taxes in four different ways; rates, stamp duty, the €100 flat tax and inheritance tax.