The Minister for Finance Paschal Donohoe has moved to reassure homeowners by announcing that the Government will conduct a full review of the Local Proper Tax system.
It is believed the review which will be completed by 2019 will look at alternative measures when it comes to the much debated charge.
In announcement on Tuesday Mr Donohoe said that both he and the Government will conduct an in-depth review of the tax which is due to be re-evaluated by 2020.
Mr Donohoe also said that the Government hope to implement changes that will provide stability for homeowners across the country.
He added the review will also provide clear clarification to the public if any changes are made to the current property taxation system which has been operating under the same regulations since it’s introduction back in 2013.
It is thought the review is being undertaken amidst fears from opposition TD ‘s and property owners who fear the tax could sky rocket given the recent upturn in the property market.
The taxation could also potentially see property owners pay almost double in 2020 if no changes are implemented.