Latest news with #LocalPropertyTax


The Irish Sun
4 days ago
- Business
- The Irish Sun
Major blow for homeowners as property tax bills set for hike as Dublin City councillors vote for first-time increase
DUBLIN homeowners are facing a hike in their Local Property Tax bills next year after councillors voted to scrap discounts for the first time since the tax was introduced more than a decade ago. The move by Councillor Daithí Doolan said those who voted to increase the tax have 'turned their backs on Dublin's struggling families". The Sinn Fein rep voiced his anger after the "proposal to cut the Local Property Tax by the maximum 15 per cent in Dublin was defeated". Read more in Property He said: "The unholy alliance have turned their backs on Dublin's struggling families. "This increase will put an added burden on households already finding it hard to make ends meet. "Sinn Fein is committed to scrapping this unfair tax. It is unjust and is not based on income or ability to pay. "When households in Dublin are hit with the increased bills next year, the public will remember who voted for the increase. Most read in The Irish Sun "People can be assured, Sinn Féin will continue to actively campaign against this unjust, unfair tax on their home." This will provide an additional €16.4 million in funds for the city, the council said. Defending the move, Fine Gael's Danny Byrne acknowledged charging the full LPT rate was 'not popular but it is prudent and fiscally responsible'. Labour's Darragh Moriarty said 75 per cent of homeowners will have a 'very modest increase' of between €18.50 and €83.75 a year. He said: 'I think that's fair and it's progressive." 1 Some homeowners in the capital will see their property tax rise next year following a vote by Dublin city councillors Credit: Alamy

The Journal
5 days ago
- Business
- The Journal
Property tax is being hiked in Dublin - if you own a house here's how much you'll pay next year
HOMEOWNERS IN DUBLIN will pay a higher rate of property tax next year as a result of a vote being held this evening by Dublin City Council. Councillors are expected to vote to remove a 15% discount on the tax for the first time in over a decade. The council's ruling group, comprising Fine Gael, Fianna Fáil, Labour and the Green Party, agreed after last year's local elections to apply the baseline rate with no discount this year for the first time. The Local Property Tax (LPT) was introduced in 2013 – at the behest of the Troika - and councillors have the power to reduce or increase it by 15% either side of the baseline level; they has consistently voted to keep a reduced rate in recent years. Dublin City Council management has long argued that the vast majority of homeowners would not be hit with substantial additional charges if councillors agreed to reduce the discount applied. According to the council, the decision to lift the discount now is expected to bring in up to €16.4m in extra funding for the city, which will be allocated to areas such as improving the council's housing stock, tackling dereliction and improving footpaths. The cost of property tax is based on the value of a person's home. Dublin City Council said 75% of eligible households will see an increase of between €18 and €83 per year in their property tax as a result of the vote passing, with the remaining 25% set to pay €523 or higher annually. For example, those with a home worth between €240,001 and €315,000 will pay €235 from next year, an annual increase of €43.75. Advertisement Homeowners with a property valued between €420,001 and €525,000 will pay €428 in property tax, an increase of €83.75. Figures released last month revealed that the average price of a second-hand home in Dublin is now €600,047 . Anyone who owns a home worth that amount will see their property tax rise to €523 a year. Houses worth between €1,050,001 and €1,155,000 will have a property tax charge of €998 , up €194.75 annually. For anyone with a house valued at between €1,995,001 and €2,100,000 , annual property tax will cost €3,110 . You can find a full list of the property bands and how much each will pay here . 'The additional revenue raised by ending the LPT tax cut will go towards improving every aspect of Dublin, from the quality of the footpaths and roads, to the quality of the homes that people are living in,' Green Party group leader Janet Horner said. 'No one should be living in damp, mouldy or cold conditions in our Council housing and the revenue we are raising here takes a meaningful step to end that injustice,' the north inner city councillor said. Fine Gael group leader Colm O'Rourke said communities across Dublin have consistently and repeatedly called for improvements in a range of local services, 'and it's time those calls were properly answered'. 'These aren't minor issues, they go to the heart of safety, accessibility and local pride. This investment is about listening to residents and delivering meaningful improvements that strengthen communities right across the city,' the Cabra-Glasnevin councillor said. Property tax for 2026 is owed on 1 November. The government changed property tax bands earlier this year to moderate the increase in the amount of tax payable as a result of increasing house prices. A possible left-leaning ruling coalition on Dublin City council last year including Sinn Féin fell apart over the question of property tax . Sinn Féin wanted to continue to apply the 15% property tax discount. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal


RTÉ News
5 days ago
- Business
- RTÉ News
Majority of Dubliners to see property tax rise next year
The majority of Dubliners will see their property tax rise next year as Dublin City Councillors are set to become the latest local authority in the capital to vote to increase the tax. If the vote passes as expected this evening, householders in three of Dublin's four locals authority areas will see their property tax increase from next year, alongside a separate revaluation of the Local Property Tax bands for all households across the country which will be applied from November. Dublin City Council said the increase will provide almost €16.5m in additional funding for the city, with almost a third going toward maintaining the city's housing stock. But opponents said they believe the property tax hike is unfair on householders and that the extra funding could be raised by collecting unpaid vacant and derelict site levies and development contributions. Since the introduction of the Local Property Tax more than a decade ago, councillors have had the ability to increase or decrease the base rate of the tax by 15%. Dublin City Council has always voted to apply the full 15% discount below the the base rate. However as part of their agreement to form a coalition last year, councillors from Fine Gael, Fianna Fáil, the Green Party and Labour Party agreed to vote to increase the tax by 15%, returning it to the base rate from 2026 to 2029. In recent weeks two other Dublin local authorities also voted to increase their property taxes while the other maintained its rate. Fingal County Council voted to reduce the discount they apply to the base rate from 7.5% to 5%, generating an additional €1m for services. South Dublin County Council also voted to reduce its discount from 7.5% to 5%, generating €3m in additional funding. Dún Laoghaire-Rathdown County Council voted to continue to apply the full 15% discount on the local property tax. In a circular to councillors ahead of tonight's meeting, Dublin City Council's Chief Executive Richard Shakespeare urged them to no longer apply the 15% discount on property tax for householders in the city, saying that removing the discount would give the council €16.4m in additional funding. The Government has already announced that properties are to be revalued for Local Property Tax on 1 November this year. However, he said that as 75% of properties in the city council are currently in band 4 or under, based on current valuations, most homeowners in the capital would see a weekly increase of between 36 cent and €1.61 if the discount on property tax is discontinued. He said that everyone wants Dublin city to become more vibrant and enjoyable and that the injection of extra funding for the capital would provide services that will "benefit and lift all". He outlined that €5.4m would be allocated to housing maintenance, €3m would go on roads and footpaths and another €3m would be used for urban regeneration and upgrading vacant properties. Mr Shakespeare said: "Dublin City Council seeks to maintain and develop services in an environment with rising service provision costs and the need to invest in key infrastructure projects. "It is unreasonable that an expectation be held that there be no increase to Dublin City Council's income base. "Securing resources of €16.4m to find services to support communities and businesses in 2026 and apply this funding of additional services for a period of four years up to and including 2029 is a valuable opportunity that I urge elected members to take." He said the current estimated take for property tax in Dublin City in 2026 is €109.4m up, €8.5m on 2025. The increase to the base rate was one of the main conditions for Labour and the Greens to enter a coalition on Dublin City Council last year, but they agreed to postpone the rise until 2026 because councillors in Fianna Fáil and Fine Gael were reported to be reluctant to agree to supporting it until after the general election had taken place. The group have 31 of the 63 seats on Dublin City Council and hope to receive support from a number of councillors outside the coalition, including representatives of the Social Democrats who last year supported a vote to return the tax to the base rate. 'If we want to invest, we need to raise revenue' - Labour councillor Labour's group leader on Dublin City Council Darragh Moriarty said his party pushed for the increase to improve the city, particularly its social housing stock. He said: "We're asking people to pay a little bit more, to put more into our city. If we want to invest in a city, we need to raise revenue. "This is the one revenue raising tool we have and every year for the last decade we voted to reduce it. "People who live in €2m mansions get an €800 tax cut every single year from Dublin City Council. We want to turn it around and e want to put that €800 into people's homes. "€5.4m of this increase in local property tax is going to go directly towards increasing the budget for housing maintenance. "That's replacing single glaze windows, new doors, mechanical ventilation and insulation boards. "That's really, really important for us. It's a hard fought win. Additionally, we're going to be investing in roads resurfacing, footpath repairs and vacancy and dereliction." 'This tax hits workers and pensioners who are already stetched' - PBP-Solidarity councillor People Before Profit-Solidarity said they will vote against the increase saying they believe the focus should be on collecting unpaid vacant and derelict site levies and development contributions. The party's group leader on the council Conor Reddy said: "If we could, we would abolish the Local Property Tax altogether. "It's primarily a tax on family homes, not real wealth. House prices are rising at an unprecedented pace, but people's wages aren't. "This tax hits workers and pensioners who are already stretched. "A truly progressive property tax would exempt people's homes and instead focus on those holding and hoarding wealth in investment properties and elsewhere. "Meanwhile, tens of millions in vacant and derelict site levies go uncollected by DCC and other councils around Ireland and private developers still owe councils, including DCC massive sums in unpaid development contributions. "Instead of punishing ordinary households, we should be taxing multi-property landlords, short-term lets, hotel chains, and big corporations. "We need more State support for local authorities - more funding for tenant in situ acquisitions to keep people out of homelessness, for refurbishment of voids, delivery of local services and most crucially, delivery of public and affordable housing on council owned lands. "The additional yield from this increase will not make the difference on any of these crucial fronts, but it will hurt homeowners who are already struggling to make ends meet." Dubliners want 'cleaner city, safer streets, and real action on vacancy' - Lord Mayor However, newly-elected Lord Mayor of Dublin Councillor Ray McAdam of Fine Gael said the higher property taxes will allow councillors to deal with many of the issues raised in last year's local elections and setting the rate for four years will also provide certainty about the rate of property tax they will pay. He said: "We heard directly from Dubliners at last year's local elections. They want a cleaner city, they want safer streets, they want better roads, better footpaths and they want improved housing conditions and they want real action vacancy and dereliction. "This is going to unlock €16.4bn of expenditure expense in terms of improving our city, roads, improving footpaths, enhancing accessibility toward our city, but also genuinely taking real action to tackle the scourge of vacancy and dereliction in our city and improving the conditions upon which many Dubliners live. "In addition to that, we're also taking steps to contribute towards the borrowing costs associated with key infrastructure projects like the redevelopment of Dalymount Park, the new City Library in Parnell Square, as well as the new Fruit and Veg market in Smithfield."


Irish Times
14-07-2025
- Business
- Irish Times
South Dublin councillors agree to cut local property tax by 7.5% for next four years
Members of South Dublin County Council have voted to reduce the Local Property Tax (LPT) by 7.5 per cent for the next four years. The annual charge on residential properties is used to fund services provided by local authorities. Each local authority may reduce or increase the rate of the tax in its administrative area by 15 per cent. The decision to cut the rate for the next four years was approved by members in a vote by a margin of 25 votes to 14. READ MORE The motion was proposed by Cllr Mick Duff (Independent), who said he had the support of other independent councillors as well as members of Fine Gael , Labour and Fianna Fáil . Mr Duff said the decision to reduce the tax until October 2029 would ease the burden on homeowners and give council chief executive Colm Ward certainty in his budgets for the coming years. The move comes in advance of changes to the LPT scheme proposed by Minister for Finance Paschal Donohoe . The changes include a revaluation to take place on November 1st, with these valuations applying next year and continuing for five years. However, while most house valuations are expected to increase, Mr Donohoe has played down the impact of the changes. He said about 96 per cent of properties would remain in their existing band, with the majority of property owners – those with properties valued at €525,000 or lower on November 1st – paying between €5 and €25 extra a year. Properties above that value, or properties which move up a band, will see a higher increase in their LPT charge. Mr Duff said the review of the LPT 'is going ahead anyway', but what councillors had done was to bring certainty to the annual debate over the charge. He acknowledged the initial aim was to eliminate the charge entirely over the coming years, but said 'that is now going to be [a matter] for the next council'. At Monday's meeting members were also told the council exceeded its social housing target of 1,821 new homes between 2022 and last year. In a progress report on the council's housing delivery action plan for 2022 to 2026, council staff said the figure for social homes came in at 1,825. Council staff said the number of new social homes due to come on stream by the end of next year was 3,700. The homes are being delivered through a range of initiatives including the local authority building its own homes, partnerships with approved housing bodies, through Part V of the Planning and Development Act and leasing. Councillors were told up to the end of last year the local authority had built 566 new homes and 15 were acquired as 'turnkey' properties – meaning they were ready to move into. Approved housing bodies had built 123 and obtained 528 as 'turnkey' properties. Part V of the Planning and Development Act, which allows the council to buy properties from developers at cost, delivered 593 homes.


Irish Independent
09-07-2025
- Business
- Irish Independent
Cutting Property Tax has ‘just blown a €10m hole in the council budget'
Ahead of budget planning for 2026, Deputy Chief Executive of the Council, Helena Cunningham, said the council is facing a difficult budget for the next year, with higher costs and salaries, a growing population and the rising costs of amenities. Councillors can vote annually on whether to keep the LPT at the base rate, to cut it by up to 15pc, or increase it by up to 15pc. The council's only source of revenue are the LPT, rents rates and parking charges, and the 15pc reduction could see €10.4m reduced from the council's total budget. There are concerns the reduction could mean higher social housing rents and rates on local businesses. Fianna Fáil Councillor Michael Clark voted for a full 15pc reduction as 'homeowners already pay more than their fair share'. 'A modest house in this county can have a higher nominal value than a huge house in a rural area and is taxed accordingly. 'Most of these are family homes, not assets to be flipped, they cannot be easily monetised. 'These are families who might be property rich and cash poor. The tax is a burden on our citizens, we cannot penalise people in the middle of a cost-of-living crisis.' The proposal also found the support of Fine Gael, People Before Profit (PBP), and some independent councillors. The Green Party, who supported maintaining the base rate, called the 15pc reduction 'tokenistic'. ADVERTISEMENT A spokesperson from the party called out the councillors who agreed on the lowest possible amount of LPT, despite warnings from the Council Executive that it will impact essential public services. Robert Jones, Green Party councillor for Dundrum, said: 'Fine Gael, Fianna Fáil, PBP and Independents have just blown a €10m hole in our council budget for 2026. 'We need to be honest with people. A 15pc cut in the Local Property Tax saves the average homeowner one to two euro a week. 'But the cost is far greater – footpaths go unmaintained, playgrounds don't get repaired, and community services suffer. 'Council management have been crystal clear that costs are rising. 'This 15pc benefits those who don't need it, the average homeowner saves a euro or two a week, while renters get nothing. 'Institutions and landlords pocket tens of thousands – this is not a policy, it's a handout. By cutting the LPT, we're simply shifting the burden. 'Instead of a modest broad-based tax on wealth, Fine Gael and Fianna Fáil will now be looking at increasing social housing rents, civic centre fees and rates on local businesses.' PBP councillor Dave O'Keeffe, who also supported the 15pc cut, said he was 'reluctant to get behind the motion based on the people who have put it forward'. 'The parties in government who can't provide affordable housing, rent or social housing have created the situation we are in today,' he said. 'They've now put us in the position of choosing between increasing rent for social housing tenants or increasing property tax. 'The numbers might seem small, but they are only small if you can afford it. I've met families who had to make the decision to turn the heating on or not in winter. 'Five or €10 can mean a lot to them, so I can't get behind raising the tax.' Funded by the Local Democracy Reporting Scheme