Cork city homeowners to be hit with property tax hike

Cork City Council is facing a funding shortfall of €3m in its budget. Picture: Dan Linehan

A hike in Cork city’s 2021 local property tax (LPT) rate is on the cards, which will see private home owners pay more tax and land local authority tenants with higher rent.

Councillors meet on Friday night to consider the local adjustment factor on the basic rate of the annual self-assessed tax charged on the market value of residential properties within the city. They can adjust the rate by a maximum of plus or minus 15%.