FIANNA Fáil Justice spokesman Niall Collins has urged Limerick Government TDs to back a “common sense” proposal to avert a major increase in property taxes.
According to Deputy Collins, there is widespread concern already that people in Limerick will find their water bills rising considerably once metering is fully introduced. Now, the prospect of a further increase in property tax bills represents another threat hanging over households, he warned.
However, “it can be stopped”, the Limerick Fianna Fáil TD maintains.
“The Government should take the opportunity afforded by the passing of the Finance Bill in the coming weeks to repeal the revaluation in 2016. My colleague Deputy Michael McGrath has published an amendment to the Finance Act which would give effect to this.
“Under the Government’s property tax law, properties have to be revalued from their 2013 levels in 2016. But, the latest data from the CSO shows nationally prices have risen by 21 per cent since May of last year and Collins predicts this will result in a “massive hike” in the property taxes if nothing is done to stop it.
“Even if there is a slowing in the current rate of growth in property prices, it is likely that the next valuation date will see homeowners having to revise the valuation basis for their property tax declaration by a large amount. For most properties, the effect of moving up one valuation band is an extra €90 per year. But the reality is some homeowners in Limerick could see their home rise by two valuation bands or €180 a year.”
“Government backbenchers have been voicing their concerns about this issue in recent times. If they are serious about making a real change to help people they will back the amendment that Fianna Fáil is proposing. This is a common sense measure that should be supported,” Deputy Collins concluded.
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