Officials vote not to adjust property tax rate in Cork

Cork city councillors have voted not to change the rate of Local Property Tax in the city.

At a vote taken last evening, councillors decided not to adjust the Local Property Tax, which a local authority can vary by a maximum of plus- or minus-15% of the basic rate.

Lord Mayor of Cork John Sheehan said: “Cork City Council decided not to adjust the local property tax.

“With an expanded new city, a majority of members felt that we should wait and see how the new areas and new financial picture emerges over the next 12 months.”

A 15% increase in the rate would have meant an additional €3.195m for the local authority, according to a report compiled by council chief executive Ann Doherty.

The vote passed by 19 votes to eight, with each of the four Green Party councillors voting in favour of an adjustment.

Elected members of Cork City Council have voted for a 0% local adjustment factor for the last three years in a row.

According to Cork City Council, this has generated an additional income of €777,000 per annum in the budget, or €2.33m over three years.

Meanwhile, Cork County Council voted earlier this week to increase property tax payments by 5% next year.

In Limerick, councillors also voted for a 7.5% increase in its rate of local property tax, as did councillors in Kildare County Council.

Local property tax in Wicklow is also set to increase by 10% following a vote by its county council. In Dublin, city councillors voted again this week to reduce its annual local property tax by 15%.