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Tipperary and Clare: What the property tax could mean for your pocket

Speculation that civil service planners have fixed on a property tax set at one quarter per cent of the home's value intensified this weekend.

The growing likelihood the new tax will be levied at this rate comes on the day that the Irish Examiner begins a four day series in which we look at the potential costs for homeowners across Munster if the new tax was levied at this rate.




Based on an analysis of Daft.ie listings for the average asking price of house in Q2 2012, we calculate what the tax will mean for homeowners in the main areas of all Munster counties.

Today we look at Tipperary and Clare, while on Tuesday Cork will be in the spotlight. We will continue the series on Wednesday with a look at potential costs in Limerick and conclude our investigation on Thursday with Kerry and Waterford.

Our probe into the potential cost of the new tax comes just days after the Minister for Jobs and Enterprise Richard Bruton said no decisions have been made on the new property tax.

His comments came amid reports that homeowners will have to value their own house when the tax is introduced next July and that revenue would conduct random checks to make sure people are not undervaluing their home.

Minister Bruton said late last week that all options are being considered.

Mr Bruton said: "No decisions have been taken - obviously Michael Noonan has indicated that a property tax won't be in affect until the middle of next year.

"Some of the rumours of the scale of which it would be set at are unfounded, as he has indicated".

"The government has yet to make decisions about the base of the tax or the way in which it will be collected".

"Those are matters that will be decided over the coming months and announced in December, well ahead of any payment times," he added.

The new property tax will be introduced from July.

Despite pressure from the IMF for a levy of 0.5% on the value of the property, Finance Minister Michael Noonan has indicated that figure is too high and is more likely to be closer to half that at 0.25%.



Day 2: Cork

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