Written answers
Tuesday, 9 July 2024
Department of Finance
Tax Yield
Pearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source
200. To ask the Minister for Finance the annual revenue in 2023; the expected annual revenue in each of the years 2024 and 2025 of the local property tax, disaggregated by valuation band; the number of properties within each valuation band; and if he will make a statement on the matter. [29538/24]
Jack Chambers (Dublin West, Fianna Fail)
Link to this: Individually | In context | Oireachtas source
I am advised by Revenue that the latest available full year information available in respect of Local Property Tax (LPT) is for the year 2023. The total number of properties for which returns and/or LPT payments have been made for the year 2023 is 1,981,824 to date. The table below shows a breakdown of these properties by valuation band. These figures include exempt and deferred properties and properties owned by Local Authorities and Approved Housing Bodies. The liability to date in respect of the year 2023 amount to €531 million. I am further advised that my Department does not prepare an advance estimate of the anticipated annual yield from LPT. However, I note that the figures for 2024 and 2025 will be impacted by the inclusion of newly built properties and by the decisions of the Local Authorities regarding the Local Adjustment Factor.
The Deputy may wish to note that quarterly reports showing certain available current year statistics in relation to LPT are published on the Revenue website at www.revenue.ie/en/corporate/information-about-revenue/statistics/property-taxes/index.aspx
| Valuation Band | Properties (‘000) | Liability (€m) |
|---|---|---|
| 1: €0-€200,000 | 785.0 | 73.6 |
| 2: €200,001-€262,500 | 385.7 | 89.4 |
| 3: €262,501-€350,000 | 362.6 | 112.3 |
| 4: €350,001-€437,500 | 190.1 | 71.8 |
| 5: €437,501-€525,000 | 100.1 | 45.2 |
| 6: €525,501-€612,500 | 50.6 | 26.6 |
| 7: €612,501-€700,000 | 33.7 | 20.5 |
| 8: €700,001-€787,500 | 20.7 | 14.1 |
| 9: €787,501-€875,000 | 16.3 | 12.3 |
| 10: €875,001-€962,500 | 9.9 | 8.4 |
| 11: €962,501-€1,050,000 | 6.7 | 8.5 |
| 12: €1,050,001-€1,137,500 | 3.9 | 6.9 |
| 13: €1,137,501-€1,225,000 | 3.5 | 5.6 |
| 14: €1,225,001-€1,312,500 | 2.5 | 4.1 |
| 15: €1,312,501-€1,400,000 | 1.8 | 3.2 |
| 16: €1,400,001-€1,487,500 | 1.0 | 2.0 |
| 17: €1,487,501-€1,575,000 | 1.4 | 2.8 |
| 18: €1,575,001-€1,662,500 | 0.9 | 2.1 |
| 19: €1,662,501-€1,750,000 | 1.1 | 2.7 |
| 20: Over €1.75 million | 4.1 | 18.4 |
| Total* | 1,981.8 | 531 |
*Differences may occur due to rounding of figures.
No comments