Thursday 14 December 2017

2016 will be a big year – in more ways than one

Fionnan Sheahan

Fionnan Sheahan

Taxation once again – 2016 is going to be significant for more than just the 100th anniversary of the Easter Rising. Towards the end of that year, householders are going to learn how their bills for two of the most contentious austerity measures of the bailout era will hit them the following year.

The valuation period for the property tax, based on how much the house was worth in May 2013, runs from 2013 up to 2016. Thereafter, from 2017 through to 2019, homeowners are supposed to pay their property tax based on the value of their house in November 2016.

However, the rise of the property market means homeowners are facing sizably bigger bills. The Central Statistics Office confirmed that June’s monthly increase of 2.9pc nationally was the highest since the property index began in 2005 so the concerns of homeowners about the impact on their property tax bills are obvious.

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