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Property charges in the capital could vary by factor of four, say experts

HUGE property tax variations are likely in Dublin when the levy is introduced.

Owners of average four-bed homes in Sandymount could be charged €2,117, while families living in a four-bed in Darndale would have to pay in the region of €586 a year, a difference of more than €1,400.

The figures are based on data produced by property website Daft, which analysed average residential asking prices across the country in the second quarter of the year.

While the Government has yet to make an official announcement, the tax is expected to be levied at a rate of 0.25pc of property value.

Finance Minister Michael Noonan (below) has already rejected a proposal from the International Monetary Fund (IMF) for a 0.5pc rate, which would work out at an average of €625 per household.

Mr Noonan said a 0.5pc level would be too high, but he declined to reveal what the level would be.

However, the indications are that the average take across the country will be about €300 a year per home or 0.25pc. This average figure will be higher in the capital.

Mr Noonan said the exact amount would be released on the day of the Budget: December 5. Other areas where many families are likely to pay more than €1,500 pa include Blackrock, Ranelagh and Dalkey.