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Govt to announce property tax distribution

The government will today reveal plans to ensure areas which take in less property tax don't suffer...
TodayFM
TodayFM

7:26 AM - 4 Sep 2014



Govt to announce property tax...

News

Govt to announce property tax distribution

TodayFM
TodayFM

7:26 AM - 4 Sep 2014



The government will today reveal plans to ensure areas which take in less property tax don't suffer compared to their better off neighbouring counties.

It's sparked fears that councils who had hoped to cut tax rates won't now be able to do so.

Jennifer Ryan reports:

Local authorities have the power to adjust their property tax rates up or down by as much as 15 per cent, and they have until the end of this month to inform Revenue of the amount they're imposing for next year.

But plans to be unveiled today could jeopardise the hopes of some to reduce the rate for their residents if they managed to take in enough cash.

The Environment Minister is expected to announce a scheme that could reduce funding to areas that have taken in the most property tax.

The money would then be redirected to make up any shortfall in places where property tax isn't enough to meet funding demands.

It's expected the 'equalisation measures' will have significant impact on areas like parts of Dublin where property prices are some of the highest in the country.



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