Aidan Farrelly (Kildare North, Social Democrats)
Link to this: Individually | In context

302. To ask the Minister for Finance the minister for finance if he will provide an update in respect of the General Scheme of Finance (Local Property Tax) (Amendment) Bill 2025; and his timeline from introduction to enactment. [28811/25]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context

The Finance (Local Property Tax) (Amendment) Bill 2025 provides for a new Local Property Tax (LPT) valuation period which will commence in 2026 and will last for five years. The Bill sets out a new method of calculating Local Property Tax (LPT) liabilities on the basis of fairness. It also provides for a number of technical amendments to LPT legislation and minor, time-sensitive amendments to other tax legislation.

The proposed changes to LPT will mean that most homeowners will remain in their present valuation bands. Base LPT charges will increase a small amount, in proportion to property values. A small number of properties will pay a larger amount than before, either as a result of moving valuation band, or due to their existing high value. The next valuation period will last for a duration of five years (2026 to 2030), with revaluation to next take place on 1 November 2030.

Following approval of the proposals by Government, the General Scheme of the Bill was published on 1 April. This document is available on gov.ie:

www.gov.ie/en/department-of-finance/press-releases/minister-donohoe-announces-changes-to-local-property-tax-to-ensure-fairness/.

Officials in my Department and Revenue are currently engaging with the Office of Parliamentary Council on the draft Bill, in consultation with the Department of Housing, Local Government and Heritage. Once the draft legislation has been finalised, I intend to seek Cabinet approval to publish the Bill in the coming weeks.

It is my intention to have the Bill enacted before the summer recess. This is necessary to provide sufficient time for the Revenue Commissioners to make the essential technical and administrative preparations to implement the various changes to the LPT regime in advance of the valuation date of 1 November 2025.