| 11.9°C Dublin

Eamon Gilmore attacks Sinn Fein on property tax ‘hypocrisy’

TANAISTE Eamon Gilmore has accused Sinn Fein of hypocrisy for opposing property tax in this country, while implementing the same taxes in the North.

Following revelations in the Irish Independent of the details of the property tax to be introduced next year, Mr Gilmore said the system would be outlined in the Budget next week.

The average rate of property tax is expected to be around €300 under a self-assessment system.

The value of the home will go up in bands of €50,000 and it will be calculated by self-assessment.

Householders will pay the rate attached to the nearest €50,000 band, so a house worth €235,000 will pay the rate for all houses between €200,000 and €250,000 of €500.

The property tax is expected to range from €200 to €400 for most homeowners.

But Mr Gilmore attacked Sinn Fein for its criticism of the move as he set out the costs in the North:

- a house in Antrim worth £150,000 paying £1,100 in property tax;

- a house in Strabane worth £100,000 paying £714 in property tax;

- a house in Colerain worth £75,000 paying £506 in property tax.

“Does the hypocrisy of Sinn Fein know any bounds at all?” Mr Gilmore said.

Homeowners in cities will be paying more property tax on their homes than their rural counterparts from next year, as the flat-rate tax will be based on the market value of the house.

Few exemptions will be available - but homeowners who are unable to pay will be able to apply for a deferral, under plans to be announced in next week's Budget.