Written answers

Tuesday, 23 September 2014

Department of Finance

Property Taxation Yield

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

165. To ask the Minister for Finance the amount of revenue expected to be received in 2014 in respect of the local property tax; the anticipated revenue in 2015. [35633/14]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am informed by the Revenue Commissioners that compliance data in relation to the Local Property Tax (LPT) is available broken down by city and county councils nationally and the most up to date figures for LPT collected in 2013 and 2014 were published in July 2014 on the Commissioners' website at:

The Commissioners have confirmed that the 2014 LPT Exchequer receipts to 31 August 2014 are €363m. Exchequer receipts for LPT also include payments of Household Charge.

While the 2014 forecasted yield for LPT is €550 million (this includes €50 million in Household Charge), the Commissioners advise that it is not possible to state the precise amount of LPT which is expected to be collected for 2014. A number of factors could affect the outcome, including the continuation of the strong level of voluntary compliance that was achieved in 2013, the impact of Revenue's national compliance programme to follow up with those liable persons who have failed to meet their LPT obligations for 2013 and 2014, and the compliance programme for the collection of arrears of household charge/LPT.

I am advised that these factors will also, most likely, affect the outcome for 2015. The current forecast for 2015 is €500 million. However, the Deputy will also be aware that Section 20 of the Finance (Local Property Tax) Act 2012 (as amended) allows elected members of a local authority to pass a formal resolution to vary the basic rate of LPT by up to 15% for their functional area, which may result in a lower or higher LPT rate applying for 2015, with a corresponding impact on the LPT yield for 2015.

I am further advised by the Commissioners that they intend to publish updated compliance statistics in due course.

Comments

No comments

Log in or join to post a public comment.