Brian Hayes (Dublin South West, Fine Gael) | Oireachtas source

It depends to whom one wants to leave it, of course. Some 95% is a substantial asset to be given to someone at some point. I listened to colleagues talking about the aspect of uncertainty and that local authorities can change it from 2015 onwards. I thought we were supposed to be in favour of giving significant fund-raising powers to local authorities which they can justify to their electoral base in their respective areas, notwithstanding the equalisation issue raised by Senator Hayden. I would have thought that was a good thing in a progressive, modern tax base, to give powers to local authorities to change the tax base locally for the purposes of doing things differently in the provision of local services. We stand over that.

I apologise for failing to reply to Senator Norris earlier. While I am conscious that the upkeep of historic properties is performed at significant effort and expense to the residents and owners of those properties and that a very valuable contribution to our built heritage is made by these persons, I do not intend to allow exemptions from the local property tax for listed properties. Tax relief in respect of expenditure incurred on the repair, maintenance or restoration of the approved building or garden is currently available from income tax or corporation tax to the owner-occupiers of such approved properties. I am satisfied that this is a more appropriate way to target support in this area. Support is available through the taxation system for people who have these very substantial historic properties. We all have an interest in ensuring they carry out such restoration work. This is how relief will be directed rather than giving an exemption to those who currently own the property.