There are strong calls for the Government to cancel plans for a re-evaluation of the property tax system next year.
The call is coming from the Fianna Fáil party who claim that a “time bomb” is awaiting homeowners when the tax is re-assessed next year because of the huge rise in property prices. It is understood that the current local property tax is fixed at housing prices from 2013 when the system was first introduced , however with the current economy on the turn property prices have risen across the country. Fianna Fail claim that when the tax is re-assessed, this will lead to a large tax increase for many people.
Fianna Fail TD Michael McGrath made a brief statement regarding the issue in which he said: “It’s simply not affordable for a great many people in the country at this time.” “We are – as part of our overall review of the local property tax … taking out the valuation exercise and removing that hefty hike in the property tax bill which people are facing into.”