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Property tax

  • 14-04-2009 12:59pm
    #1
    petergdub
    Registered Users, Registered Users 2 Posts: 61 ✭✭


    I would have thought a property tax would have worked like in the old days - i.e. market value of property over a threshold taxed at 1.5% if annual income of owner > a threshold.

    However, the central bank has come out with the bizarre statement that a "1000e tax on all 1.7 million properties in the state will yield 1.7Bn"
    (Exchequer needs a further 1.75B at least apparently)

    I know the commission report is due out "later this year".
    Just speculating as to how this would work and wondering what impact it would have on property prices.


Comments

  • #2
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    The only way is down on prices and this factor pushes it stronger.

    It should really be based on ability to pay along with a magic formula on worth, instead of just a flat tax.


  • #3
    Sarn
    Registered Users, Registered Users 2 Posts: 3,109 ✭✭✭Sarn


    Trying to calculate worth in the current climate would be difficult unless it was based on square footage or something like that. If it was based on market value imagine the impact it would have on prices as they would be revised down to avoid tax.


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