THERE will be no change in the levels of Local Property Tax (LPT) payable by Limerick homeowners for 2021 following a meeting of Limerick City and County Council this afternoon.
Councillors voted in favour of increasing the LPT by 15% from the base rate for 2021, which means there will be no change to the LPT next year.
Every year the LPT automatically returns to the base rate with councillors able to alter the LPT by between ±15% of this baseline rate.
This money which amounts to around €2.36 million will be spent on new plant machinery for the upkeep of Limerick’s roads including road sweepers and tar sprayers, funding for the Fire Service and to tackle dereliction and vacancies, public realm improvements and matching funding required for large scale transformational projects under the URDF and RRDF government schemes, and development of Limerick’s tourism potential.
As part of the commitment to front load many initiatives, the Council has already invested 1.5 million in new plant machinery such as velocity patchers, high pressure washers, gritting truck and chip spreaders.
The LPT decision comes against a backdrop of a possible €3million shortfall for Limerick City and County Council in 2020 due to the impact of Covid-19.
Councillors have been informed that the framing of the budget for 2021 will be challenging due to the ongoing Covid-19 pandemic and the effect and uncertainty it is having on the economy of Limerick and Ireland.
The budget for 2021 for Limerick City and County Council is due to be voted on in November.
