Press release
Minister Donohoe announces review of the Local Property Tax
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Published on
Last updated on
The Minister for Finance and Public Expenditure & Reform, Paschal Donohoe TD briefed his government colleagues today (Tuesday) on the review of the Local Property Tax (LPT) his Department will be advancing during 2018. The review will include a consultation process to enable all interested parties and individuals to submit their views on the future of the LPT.
The review will start in February and will look in particular at the impact on LPT liabilities of property price developments. It will include an examination of the outstanding recommendations of the 2015 Thornhill review of the Local Property Tax. The review will be conducted by a cross-departmental group, chaired by the Department of Finance and will comprise the Revenue Commissioners and the Departments of Public Expenditure & Reform and Housing, Planning & Local Government. It is expected that the review will be completed at the end of August and that the group will provide a number of policy choices for consideration.
The purpose of the review will be to inform the Minister in relation to any actions he may recommend to Government concerning the overall yield from LPT and its contribution to total tax revenue. The review will be informed by the desirability of achieving relative stability, both over the short and longer terms, in LPT payments of liable persons.
Commenting on the current review Minister Donohoe said:
“Even though it would be 2020 before LPT liabilities would be affected by any property revaluations, it is important that the Government is able to make its position clear in relation to LPT in a timely way so that households will be aware of its plans for the tax in advance of the November 2019 revaluation date and the associated 2020 and beyond LPT liabilities. The current review of the LPT will be informed by the principle of achieving relative stability in the LPT payments of those liable for the tax and provide clear direction on the likely payments faced by households in 2020.”
ENDS
16th January 2018