Oireachtas Joint and Select Committees

Tuesday, 12 December 2017

Committee on Budgetary Oversight

Revaluation of Local Property Tax and Commercial Stamp Duty: Revenue Commissioners

4:00 pm

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

It would be useful to get a breakdown of how much could be owed both in totality and aggregate and what the average figures in terms of liability might be.

Has any analysis been done or would it be possible to do an analysis when Revenue is estimating a revaluation of the impact that might have, how much the increases in the tax would be, how many people would move from one band to another and so on to cross-check that against people's income? Revenue has figures on people's income. Such analysis would help inform us of the benefit, or otherwise, of a tax such as this one. Is it disproportionate in its impact and to what extent is it hitting people on different incomes?

As an opponent of the local property tax, I believe it is regressive and will hit those with lower incomes hard and disproportionately but regardless of that being my view, it might be useful in any estimates or revaluation process to examine the impact on different income levels of a certain level of property price increase and revaluation based on those property price levels. Is that possible?

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