Joan Burton (Dublin West, Labour)
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The fact that many people who bought their houses some time ago are exempt is a considerable cause of disaffection with the local property tax. It is a point often raised with me. We have all seen the rising property prices in Dublin so let us take as an example a new property, perhaps a penthouse apartment, bought in the International Financial Services Centre, IFSC, four or five years ago for between €700,000 and €1 million. Is it correct that that apartment is exempt from property tax? This is an example of the local legends I am talking about and the point I want to understand.