Super rich avoid property tax bill

Owners of €1m-plus penthouse homes built since 2013 will be at least €16,000 better off as they have escaped having to pay the local property tax (LPT) until 2021 at the earliest, because of a gap in the law.

Finance Minister Paschal Donohoe confirmed that owners of such luxury apartments and homes across the country built since 2013 have escaped the LPT and will remain free of the charge for another two years.