Eoghan Murphy (Dublin South East, Fine Gael)
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78. To ask the Minister for Finance if the local property tax adjustment allowed by local authorities is the maximum cumulative increase or decrease permissible in a given year or over a period of years, that is, could it be reduced by 15% every year; and, if it will be the local authorities or central government responsible for setting the basic rate at the next valuation in 2017. [7313/14]

Michael Noonan (Limerick City, Fine Gael)
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Section 20 of the Finance (Local Property Tax) Act legislation enables local authorities to increase or decrease the rate of local property tax by a local adjustment factor on properties located in their area.  This factor cannot exceed +15% or -15% of the central national rate.  The Minister for the Environment, Community and Local Government may make regulations regarding the setting of the local adjustment factor. Section 17 of the Act provides for a central national rate of 0.18% on the first €1m in value and 0.25% on the portion of the value above €1m (where no banding will apply). Any adjustment to the central rate would require an amendment of the Act. As I advised the House during the debate on the Finance (Local Property Tax) Bill, the central national rate will not vary for the lifetime of this Government.