Helen McEntee (Meath East, Fine Gael)
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122. To ask the Minister for Finance if he will provide an update on the property tax exemption for homes with pyrite, especially for families who are categorised as grade 1 and who have been advised against the expense of having a core test done, which will be carried out by the Pyrite Resolution Board when the home is accepted into the scheme. [24602/15]

Michael Noonan (Limerick City, Fine Gael)
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The Deputy will be aware that I have initiated a review of the operation of Local Property Tax (LPT). The review is being conducted by Dr Don Thornhill and is due to be presented to me no later than summer 2015.

The review will primarily have regard to recent residential property price developments, the overall yield from LPT and the desirability of achieving relative stability in LPT payments. It will however also address a number of matters relating to the administration of LPT, including the operation of the pyrite exemption provisions. Once I receive the review recommendations from that group I will make a decision on the matter and I will inform the house in that regard.

A resolution to the pyrite issues may necessitate a change in the relevant provisions of the Finance (Local Property Tax) Act 2012 (as amended) and/or the Finance (Local Property Tax) (Pyrite Exemption) Regulations. If it is the case that legislative change is required, then I will examine with the Revenue Commissioners the possibilities for its advance application on an administrative basis.

Pending any decisions in relation to the statutory provisions, Revenue has an obligation to act in accordance with section 10A of the Finance (Local Property Tax) Act 2012 (as amended) which requires that an LPT exemption can only apply where the residential property has been assessed and a certificate confirming "significant pyritic damage" has been issued to the property owner.

This is the only type of certificate that is relevant under current legislation and a homeowner cannot claim the exemption until it has been issued. For the Deputy's information  "significant pyritic damage" includes properties that are certified as having a Damage Condition Rating of '2' or a Damage Condition Rating of '1' with progression.

Finally, while I am anxious to resolve the issue as quickly as possible, it is important that any changes that may be made do not go beyond the objectives of providing a temporary LPT exemption for homes with "significant pyritic damage" only.