Property tax proposal 'with Environment Minister'

The Department of Finance has issued a statement on the Government's plans to introduce a property tax.

It has said a report on the tax to replace the Household Charge is with the Minister for the Environment Phil Hogan and the recommendation will be considered by Government in due course.

It went on to say the only decision that has been taken by Cabinet regarding the property tax is that it will be administered by the Revenue Commissioners.

Newspaper reports have said that recent submissions to the Troika reveal the property tax will be based on market value, not square footage.

The Department of Finance said there is no new information contained in the EU/IMF documents regarding next year's budget.