Seanad debates

Tuesday, 1 December 2015

2:30 pm

Photo of Paul CoghlanPaul Coghlan (Fine Gael) | Oireachtas source

I welcome the postponement of the revaluation of the property tax from next year to 2019. There is a big problem in the sense that many of the areas where there has been a significant increase in prices since the tax was introduced in 2013 are also at the upper end of the local property tax. Naturally, the people concerned are fearful of an impending increase in the tax if the revaluation date were to be next year, as originally intended. However, the Department of Finance conducted a consultation process earlier this year which generated more than 40 submissions that have all been posted on its website in conjunction with a review by Dr. Don Thornhill, which I welcome. The upshot of that is we should take on board the views of professional valuers and the Institute of Professional Auctioneers and Valuers, IPAV, and that the property tax should not be based on value alone. Other factors such as location, size and many other aspects should be taken into account. I hope all this will be borne in mind by the Department and the Minister.

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