All homes are to be revalued under plans to bring tens of thousands of homes built in recent years into the property tax net, with one-third of homeowners seeing their existing property tax bill rise by €100. In addition, Local Property Tax (LPT) exemptions for owners of new-build homes will end this year, bringing tens of thousands of homes built in recent years into the property tax net. The reduced rate compared to the 2013 formula will mean that a majority of homes will either pay the same rate of tax or see a reduction, while a third of homeowners will see their property tax bill rise by up to €100. Taoiseach Micheàl Martin has insisted the recalibration to the Local Property Tax (LPT) agreed by Cabinet will be "fair and affordable." "It's fulfilling a Programme for government commitment that any recalibration of the property tax scheme will be fair, and will be affordable," he said.

Source: Irish Examiner June 01, 2021 11:11 UTC