A significant number of homeowners across the country may see substantial increases in their Local Property Tax bills next year, reports Breaking News.
The combination of rising property values and increased council rates could result in some households paying several hundred euro more.
Councils in Carlow, Dublin City, South Dublin, Fingal, and Cork County have recently agreed to move from a discounted rate to a higher one, reports Breaking News.
According to the Irish Independent, both the Department of Finance and local authorities maintain that 96 per cent of homeowners will remain in their current tax band, with only minor increases ranging between €5 and €25.
Irish Independent assistant news editor Alan Caulfield said: “Thousands of homeowners are facing a triple hit in local property tax bills next year due to changes to the system, according to analysis by the Irish Independent. House prices are rising rapdily, the property tax bands are being changed, and more councils have voted to increase the amount they charge by up to 15 per cent. These factors could result in owners of some average price homes paying far more than in previous years. Finance Minister Paschal Donohoe has insisted that changes to the system will mean that 96 will stay in their existing band. Our analysis shows that, while most people may stay in their old band, bigger increases could hit those who move into the next band if their home has risen signsignificantly in value,” reports Breaking News.
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