Darragh O'Brien (Fianna Fail) | Oireachtas source

Apartment and home owners across the country pay €1,600 or €1,800, or €2,000 and more in management fees but they do not derive direct services from the local authority. They pay for their light and insurance and they pay into sinking funds for their estates. My Bill was defeated in the other House and, therefore, could not be introduced here because it was a cost on the Exchequer.

My amendment in this regard would provide for a partial exemption on a principal private residence only. The exemption would be equal to one third of the management fee or €300, or one third of the LPT. The maximum relief, therefore, would be €300. That is sensible and fully costed. The Minister of State's officials can check this but the cost would be approximately €15 million.

Many people living in apartments and homes on managed estates feel they are being hit on the double and they are correct. There is no provision in the legislation to deal with that. I hope we get to my amendment but it is unlikely. In addition, the interest rate on a deferral at 4% is too high.

I will support the Bill on the basis that it freezes the revaluation date but it is sorely lacking in other detail that could have made a difference for those who cannot afford to pay the LPT, those whose homes are valueless and those who live on managed estates and who are effectively being taxed on the double and paying a tax for services that they do not derive. I thank the Minister of State for introducing the legislation. It is a pity the House only has an hour and a half to debate all Stages.