According to a government source, the new tax “would not be a million miles away” from the example cited in an ESRI report focusing on a tax rate in the region of €2.50 to €3 per €1,000 of house value.
A rate in this region is geared to bring in revenue of about €500 million per year. The report published in April also recommended exemptions for the low paid.
A poll on MyHome.ie on Friday found that 64% were against the introduction of a property tax, while 48% preferred an alternative method to how it would be calculated rather than the site value or home value options.
Of those surveyed, 21% preferred a site value while just 12% wanted the tax based on the value of your home. A further 19% said it should be a combination of home and site value.
Read more in today’s Irish Times.