Tuesday, July 27, 2010
A silver bullet for the emerald isle?
The prospect of a property tax is looming large as the Government attempts to plug holes in the Exchequer finances. An annual tax based on the value and size of the property is being considered. For a lower-valued house, homeowners would pay around â‚¬250 a year, while those with a pricier house in a sought-after area would pay more than â‚¬3,000 a year. The Commission on Taxation report recommended that the tax should apply to residential properties, second homes and holiday homes, which means it would replace the â‚¬200 levy imposed by local authorities. The owners of residential housing that is rented out would also have to pay the tax. Commission recommendations would see the tax applied to vacant housing units as well.