BUDGET 2016: Property tax unchanged until 2019

The local property tax rate is to remained unchanged until 2019 to allow time for the Government to consider a new system for calculating the charge.

Finance Minister Michael Noonan said that the postponement would mean that home owners will not be faced with significant increases in their property tax in 2017 as a result of increased property values.

Yesterday’s budget coincided with the publication of a review of the local property tax (LPT) by former civil servant Don Thornhill, in which the postponement of the property tax revaluation is recommended to allow for the development of a new system for calculating the tax rate.