Shane Moynihan (Dublin Mid West, Fianna Fail)
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130. To ask the Minister for Finance if he will consider introducing a preferential capital gains tax rate for landlords who have made their properties available for social housing at below-market rates over an extended period; and if he will make a statement on the matter. [39240/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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Revaluation for the Local Property Tax will take place on 1 November this year. Property owners will be required to self-assess the value of their property on this date and file a return with the Revenue Commissioners. Revenue will be in touch with approximately 1.4 million taxpayers in advance of November to advise them of their obligations.

The Finance (Local Property Tax and Other Provisions) (Amendment) Act 2025, enacted earlier this month, makes changes to how the tax is calculated and charged. Namely, it will widen the valuation bands by 20 per cent, ensuring that approximately 96 per cent of properties remain in their existing valuation bands following revaluation.

The Act also amends the basic rate of LPT, with the result that LPT charges will increase by 5 or 6 per cent for homes valued under €1.26 million. Homes valued between €1.26 million and €2.1 million will see their base charges increase by 7 to 14 per cent. These increases are projected to yield an additional €45 million in important funding for local authorities.

The Act also provides for other amendments, which include increases to the income thresholds for deferral of LPT, allowing local authorities the option to vary LPT upwards by a maximum of 25 per cent from 2027 onwards, and several technical changes.

My officials in the Department, as well as Revenue, carefully considered these amendments before they were enacted as well as the current operation of the tax. The changes are being made based on fairness, providing stability and certainty regarding LPT for homeowners and local authorities alike.