Tuesday 12 December 2017

Base property tax on floor-area size

In the 1980s, I was one of the small minority in the country who paid residential property tax (RPT), a fiscal measure which became so inequitable and such a cause of contention between citizens of Dublin and the rest of the country that it was abolished with promises that nothing similar would ever be introduced again.

Have the problems inherent in this discredited valuation-based approach to a tax on homes escaped the researchers in the Economic and Social Research Institute (ESRI)?

Apart from the virtual impossibility of putting a value on most residential property at the moment -- in the absence of any published figures for recent house sales -- the valuation process itself would be a significant administrative cost against the tax collected.

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