Central Bank study finds property tax can decrease market volatility

In Ireland, recurrent property taxes include the Local Property Tax (LPT) and the Residential Zoned Land Tax.

Recurrent property taxes can aid in reducing the volatility of house prices over time, according to a new paper from the Central Bank of Ireland.

The Economic Letter stated that the introduction of a property tax can provide the Government with a stable source of revenue as it is less likely to be impacted by economic fluctuations.