Michael Noonan: No shock property tax hike

Homeowners will not face any “shock” increases in property taxes next year, Finance Minister Michael Noonan yesterday pledged —provided the Coalition was returned to power.

The assurance will come as a relief for families amid fears rising house prices could cause huge increases in the tax.

Mr Noonan also signalled the Coalition will decide in the coming months whether the tax in future will be based on national rates, or determined locally.