Value-based property is a tax step too far

So, Finance Minister Michael Noonan has put us all at ease by dismissing pressure from the IMF to levy house owners with a 0.5% property tax — it’s more likely to be closer to 0.25%.

So a house valued at 200k will pay €500 a year. This will not put the majority of people at ease.

If this is a second hand house bought when prices were at their peak, which would have been close to 400K, stamp duty of €30,000 would have been paid. This equates to 60 years of property tax. Hardly fair to now have to pay more?