Property tax blunder to cost State €3m

Property tax blunder to cost State €3m

A mistake in the laws around the property tax has cost the State €3m.

Finance Minister Michael Noonan has confirmed in the Dáil this morning that the Revenue Commissioners are refunding €3m this year to people who were actually exempt from the tax.

The law was intended to exempt first-time buyers who were purchasing a second-hand home - but a mistake means the credit applies to all people who bought a second-hand house.

Half a million people have already sent returns for next year's tax, which has raised €215m so far this year.

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