Three Dublin councils vote to maintain Property Tax rate cuts

Local property tax rates will stay the same in some Dublin suburbs.

With close to €90m at stake, three councils voted last night to keep the rate cuts at the same levels as before.

Property tax is charged at a rate of 0.18% a year up to a million euro and 0.25% for amounts above that.

Local councillors have the power to give a discount of up to 15% off the rate.

Last night Fingal decided to limit the cut to just 10% as they did in previous years.

Council management says it gives them another €2m to play with.

Dún Laoghaire-Rathdown's county manager Philomena Poole called on councillors to do the same there.

The tax made up 9% of the council's income last year, three times as much as in the other Dublin councils.

However, Dún Laoghaire-Rathdown kept the cut at the highest level, as did South Dublin County Council.

Councils may see a windfall anyway in 2020.

Homes across the city are being revalued for the tax ahead of the November 1 deadline.

It is the first time they have been assessed for the tax since May 2013 and prices have seen massive growth since then.