Friday 22 June 2018

Property Tax exemptions for 11,800 households 'should end'

The LPT is calculated on the basis of 2013 market values. Stock photo: PA
The LPT is calculated on the basis of 2013 market values. Stock photo: PA
Cormac McQuinn

Cormac McQuinn

Exemptions from Local Property Tax (LPT) available to at least 11,800 households should end next year, TDs have been told.

A briefing prepared for TDs by the Parliamentary Budget Office (PBO) has said that exemptions for certain householders are "inequitable" and should not continue.

It comes as Finance Minster Paschal Donohoe is expected to bring a memo to Cabinet today, outlining a review of the LPT regime. There are fears of massive hikes in the LPT after planned revaluations due to take place next year.

The LPT is calculated on the basis of 2013 market values. Prices have spiralled since.

Members of the Dáil's Budgetary Oversight Committee will today continue its examination of the LPT.

The PBO briefing document for committee members outlines four policy options for how the planned 2019 re-evaluation process could be conducted.

These range from allowing the valuation to go ahead as planned to letting each local authority set their own rates. It also said LPT exemptions for some households should end in 2019 as planned. One of these is the exemption for people who bought their principle home in 2013. It was claimed by 11,800 households last year.

Irish Independent

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