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File photo Eamonn Farrell/Photocall Ireland

Property tax: Here's what you need to know

Michael Noonan has revealed all the details of the property tax which is to be introduced from 1 July 2013.

MINISTER FOR FINANCE Michael Noonan has announced the full details of the property tax which will be introduced next year to replace the household charge.

The Local Property Tax, as it is called, will be charged at 0.18 per cent of the market value for houses worth under €1 million. Houses valued at more than that will be charged at 0.25 per cent of market value.

This means that a house worth €150,000 would pay €225 for one year.

Michael Noonan said that the market value of the property will be assessed by the owner, with the Revenue Commissioners providing valuation guidance for reference. Alternatively, owners will be free to use a ‘competent’ valuer.

The tax will kick in from 1 July 2013 and will apply for the second half of the year. The tax will be collected by the Revenue Commissioners.

New buyers will not have to pay the property tax for three years and people living in ghost estates will also be exempt from the charge.

The initial assessment of the market value will be valid until 2015, which Minister Noonan said would provide “three and a half years of certainty” for homeowners.

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    Mute cp
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    May 5th 2015, 8:09 PM

    What kind of a sad individual would make such a senseless call.. Idiots!

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    Mute Darragh
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    May 5th 2015, 10:00 PM

    Immature children maybe… It’s called a prank

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    Mute John Clarke
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    May 6th 2015, 12:40 AM

    The same sick twisted individuals that call out ambulance, fire brigade and Gardaí… There should be serious consequences for those caught as the act endangers the lives of rescuers and indeed others that might actually need those emergency services.

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    Mute Antrim/Kurdistan
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    May 5th 2015, 8:13 PM

    Idiots

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    Mute Get Lost Eircodes
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    May 5th 2015, 9:50 PM

    Got caught there in a wind over tide F7…my fook up but not nice.

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    Mute Ross Kiely
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    May 6th 2015, 1:13 AM

    Where when how. Details man. Dont leave us hanging

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    Mute Get Lost Eircodes
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    May 6th 2015, 8:36 AM

    In a sailing boat about 7 years ago. Was following a sailing race from skerries and wind was considerably stronger than forecast (F6-7 rather than F4-5)so everyone arrived at the entrance to the lough early.

    A following wind and an emptying tide leads to very large standing waves and boat ended up pitching from 45 degrees up to 45 degrees down. About 300-400m of rollercoaster ride through a narrow enough channel. One of the crew on another boat was taken to hospital with head injuries.

    Once past the entrance the lough was almost flat calm and when reading the sailing directions for the lough it said never attempt entering Carlingford in a wind over tide scenario. By the time we realised that we were in the manure it was too late to turn back.

    Interesting lesson, showed us how seaworthy the boat was but lucky not to suffer damage or injury. Taught me the importance of proper passage planning and to not rely 100% on sea area forecast from met eireann.

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    Mute Michael Sands
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    May 7th 2015, 5:34 AM

    That could have put others at risk?

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