Budget 2013 Property: Homeowners who bought at peak of boom face property tax bill

Those who bought houses at the peak of the boom, paying tens of thousands of euro in stamp duty, will be liable for the new Property Tax from Jul 2013.

And, the slight breaks of a three-year window free of the tax for those who buy new or previously unoccupied houses, or buyers of any first homes, won’t compensate for the loss of mortgage interest reliefs, it is argued.

Buyers of houses worth up to €300,000 may make a saving of just about €1,200 in all, from this three-year exemption.