Property Tax: Yes, No, Yes, No, Yes, No…Yes… No…?

Property Tax: Yes, No, Yes, No, Yes, No…Yes… No…?

Property Tax: Yes, No, Yes, No, Yes, No…Yes… No…?The suggestion of a possible introduction of a property tax has taken up more newspaper space again today. During yesterdays Dáil meeting Taoiseach Brian Cowen told the Government that he has still made no firm decisions on whether or not to introduce a property tax in the next budget. He commented that such a move / introduction would require “major structural changes in the taxation system”.

Along with many other TDs, leader of Fine Gael Enda Kenny took no prisoners yesterday and asked the Taoiseach for a “Yes” or “No” answer and said by not clarifying or confirming whether the tax would be introduced or not implied that the idea has not been ruled out. He said that the whole idea of the tax was grossly unfair and that “there is plenty of scope to reduce borrowing without the introduction of a property tax”. He also referred to how no less than 10 recommendations had been made in the McCarthy report on how to reduce spending and only one had been implemented.

Sitting on the other side of fence Economist Colm McCarthy said that a property tax should be introduced but if so Stamp Duty should be abolished i.e. the property tax should replace Stamp Duty, “This (Stamp Duty) was the main burden of the commission for taxation report last year, we’d be better off with a regular annual tax… rather than a huge and unstable once-off bill”. Although, would this be fair? How well would this work given the amount of Stamp Duty paid by all homeowners? Do they get an exemption?

If introduced property tax charges could range from €250 to €3,000 depending on the size and location of your home.

There are 3 comments for this article
  1. Mick at 5:23 pm

    Having just paid 8,000 for the NPPR tax on Wednesday, I found, it was a painless experience as I just put it no my MBNA card.

    I find that system very easy and simple and thankfully I can afford it.

    The country is in a mess so they need the money. The major pity is that the muppets who got us into this mess are still in charge but at least the IMF are breathing down their necks so hopefully, they will not their hands on it.

    I do think a similar, simply system should be put in place for Residential Homes.

    Those whose homes are worth a million or more should pay 1,000 and everyone else pays 300 which should include the water and subject to household income being greater than say 40,000.

  2. Eoin McGrath at 12:12 pm

    We all pay tax on our wages and anyone that has purchased a second home or upgraded from their first home to a larger family home have to pay stamp duty for the “privilege” of moving house (a tax as ludicrous as taxing people renting accommodation each time they move apartment) and now they want to tax us AGAIN on our property. They must be off their rocker. Anyone with half a brain can see that the country needs to be encouraged back into spending money as opposed to forcing us further and further to the brink of poverty!

  3. jennifer kealy at 3:54 pm

    higher tax on second homes but not on people residential property who may have house in good area but very little income on pensions etc

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