THE GOVERNMENT MAY consider capping the amount payable in Property Tax.
Speaking at a 1916 commemoration today, Tánaiste Joan Burton said that the government was “aware that house valuations are rising steeply” in parts of the country.
She said that the government is awaiting a new report and will act on it.
The tax is currently based on property valuations as of 1 May 2013, but that will be recalculated next May, with some householders potentially hit for €180 or €270 more from 2017 on.
Today’s Sunday Times reports that Finance Minister Michael Noonan told the Fine Gael party that it would be “absolute madness” to allow those whose property prices were inflating to be hit for bigger bills.
Already, over 7,000 properties have had their tax revised upwards.
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