Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

Would it not be possible to deal with that difficulty? One of the positive aspects of Smart Taxes Network's proposal is that it would not penalise developments or home improvements. Other jurisdictions have vacant site registers in respect of which compound penalties apply and these ensure properties are not left vacant. Putting in place such a register here would strengthen the Derelict Sites Act. We could also consider imposing a property tax that would be calculated not on a per €1,000 basis in respect of the value of a house but which would be calculated on the basis of €25,000 or €50,000 bands instead. If one's house is worth €200,000 and if one spends €100,000 carrying out work on it, we know for a fact that it will not increase in value by €100,000. The value increases proportionately rather than on the basis of the amount of money spent on improvements.

Would there not be the same outcome if there was a band based upon value?