Catherine Murphy (Kildare North, Social Democrats)
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239. To ask the Minister for Finance the number of deferrals on payment of property tax granted in 2015; the total amount involved; the interest rate applicable to such deferrals; the period for which deferrals were permitted; and if he will make a statement on the matter. [1420/16]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by Revenue that Part 12 of the Finance (Local Property Tax) Act 2012 (as amended) provides for Deferral, and Partial Deferral (50%) schemes that can apply to liable property owners under certain conditions including, 'Income Level', 'Hardship', 'Personal Insolvency' and 'Personal Representative of a Deceased Person'.

Additionally, Revenue also recently announced that it is making the Deferral and Partial Deferral relief available for the 2016 LPT tax year to property owners whose principal private residence was flooded during the recent bad weather. The relief is available to the people affected, regardless of whether they qualify under the normal criteria, provided they are in receipt of assistance through the Department of Social Protection Humanitarian Relief Fund.

Revenue granted 29,600 Deferrals/Partial Deferrals in respect of the 2015 LPT tax year to the value of €7.1m. The deferred tax remains as a charge on the properties in question and will have to be paid before a sale or transfer can be completed. Interest is charged on the deferred amounts at a rate of 4% per annum.

In general, the duration of deferrals coincides with the valuation period, which currently extends from 1 May 2013 to 31 October 2019, arising from the recent legislative amendments. However, Revenue may consider shorter or longer periods depending on the specific circumstances of individual cases or property owners may at any time pay the deferred tax or part of the tax if it suits them to do so.