Looking for a reduction in your local property tax payment next year? Well, if you’re a resident of Dublin city, the council is asking you to give your opinion on whether or not it should cut the tax for the coming year. Doing so could save a homeowner more than €100 based on a property in the €400-€450k price band.
The tax is levied at a rate of 0.18 per cent on the value of a property across the country. However, local authorities have discretion to vary this by the order of plus or minus 15 per cent. Last year for example, residents of Limerick city and county paid 10 per cent above the basic rate, while residents of four Dublin councils (Fingal, South Dublin, Dún Laoghaire-Rathdown and Dublin City) had a 15 per cent drop in their property tax bills. The decision meant that a Dublin resident paid tax at a rate of 0.153 per cent, or just €650 on a property in the € 400,000-€ 450,000 band, instead of € 765. It also meant however, funding foregone for Dublin City Council of €11.9 million for the year.
Kathy Quinn, head of finance with Dublin City Council, said that revenue from the tax supports local services such as parks, libraries and street cleaning that Dublin City Council provides.
“Any decision to vary this is very important so we are asking the public for their views. These views will inform whatever decision is taken,” she said.
A decision on the rate will be made by September 30th, while the variation on the rate will apply from January 1st 2018.
Residents wishing to participate in the public consultation process can do so hereby August 30th.
