Kevin Humphreys (Dublin South East, Labour)
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48. To ask the Minister for Finance if residential units owned by a REIT are subject to the local property tax; and if he will make a statement on the matter. [11240/14]

Michael Noonan (Limerick City, Fine Gael)
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In accordance with the Finance (Local Property Tax) Act 2012 (as amended), liability for Local Property Tax (LPT) will arise where a person owns a residential property on the liability date, which was 1 May 2013 for 2013 and for subsequent years 1 November in the preceding year. A liable person includes an entity such as a Real Estate Investment Trust (REIT). As no specific exemption from the charge to LPT was provided for REITs in the Finance (No. 2) Act 2013 or in the LPT legislation, residential properties owned by a REIT are subject to LPT.