Owners of lower value homes could face some of the largest increases in property tax under a method emerging as the likeliest way of reforming the levy. Increases would also be focused on Dublin, with 94 per cent of homes outside the capital avoiding any increase in the tax. At present, property tax is levied at a rate of 0.18 per cent of the value of a home, with 0.25 per cent charged on properties valued at €1 million or more. Every other band comes with a €90 tax rise and 41 per cent of homes in Dublin would jump one band. Mr Donohoe warned this could place a strain of €121 million on the public purse, if central government had to make up the shortfall in funding in some counties.

Source: The Irish Times April 03, 2019 18:21 UTC