Property tax hike looms as home costs rise

Homeowners are facing significant property tax hikes, particularly those living in apartments, as the recovery in the market continues.

An analysis by the Irish Examiner reveals many first-time buyers, and people living in Dublin and larger urban areas, face huge rises when their property tax bills are assessed next year.

Figures from the CSO and Eurostat, Europe’s stats office, show that since May 2013 — the date when the local tax was first assessed against property values — house prices have shot up at the fastest rate in Europe.