Oireachtas Joint and Select Committees

Tuesday, 16 January 2018

Committee on Budgetary Oversight

Local Property Tax and Commercial Stamp Duty: Department of Finance

4:00 pm

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
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The outstanding recommendations in the Thornhill report are quite straightforward. It is more the issue of property prices and the sudden shock many households across the State will face in 2020 when the revaluation freeze comes to an end. Many households will move up not only one band but multiple bands, which will cost hundreds of euro per annum to those households.

The Department cannot steer policy so obviously it will have to second-guess what the Government wants. The Government does not want a sudden shock. It does not want what was actually originally envisaged, namely, a local property tax aligned with valuations. The Department will probably speculate as to what would happen if the measure remained as dictated under the legislation and provide examples regarding what would be the impact if certain actions were taken. Am I correct? Will the Department state what will happen when the freeze ends and revaluation takes place in 2019? Will it outline the impact that certain cohorts will incur? Will it outline the options available if the Government reduces the impact of the revaluation date in 2019?