Property Tax and Stamp Duty

Just The One

When I bought my house about 6 years ago, I paid €30k stamp duty.... will I now have to pay again in the form of property tax?

SBWife

Yes, unless you live in a designated ghost estate.

Robxxx7

Think i'll deisgnate my own house a ghost estate ...

property tax meh !!

rodento

Same as road tax and vrt:rolleyes:

Cookie_Monster

I paid income tax last year, why do I have to pay it again this year :rolleyes:

rodento

Cookie_Monster wrote: »

I paid income tax last year, why do I have to pay it again this year :rolleyes:

Should get yourself a proper accountant mate:D

Dob74

Just The One wrote: »

When I bought my house about 6 years ago, I paid €30k stamp duty.... will I now have to pay again in the form of property tax?

This is disgraceful. Anyone who bought at the boom is paying property tax through there mortgages. i.e. a new house for 300k @ 13.5 vat 40.5k in vat. 40k of your mortgage is tax on a 35 year approx 140 a month.

So what the gov in proposing is letting off the older generation who bought there homes for peanuts. If young people have to pay 140 a month so should these old gee bags.

Sick of paying for the old, no motorways, no infastructure built til the windfall property taxes of the 00's. (the eu only funded 10%-15% btw)

I wish property taxes where only 100 euro a year

flanzer

Correct me if I'm wrong, but if you're on mortgage interest relief, you won't have to pay it

Mr CJ

People who got screwed with stamp duty should be given credit towards the new property tax to the amount they payed for in stamp duty!!

Dont pay it simple as that, everyone needs to put there foot down, you payed for your property including taxes and other charges so dont pay anymore.

You will hear some clowns saying "we have to pay it" bull"£$% the government are people just like you and I who are employed by us, we have alot more power than the government, the do-gooders out there need to cop on (never will happen) this is a rip off triple taxation that should not be payed.

Yes the state needs money but stop screwing decent people who are already struggling to cope as it is. There are other means of saving and making money, if the powers spent more time thinking of more productive ways to make money and maybe start to give new businesses a trial and let them use some of the thousands of commercial premises owned by nama (us) lying idle to begin to make use out of them and maybe down the road generate revenue rather than discussing ways to squeeze more money out of the public it would be alot better, but as usual this is common sense stuff therefore its a no no to the government.

Godge

Just The One wrote: »

When I bought my house about 6 years ago, I paid €30k stamp duty.... will I now have to pay again in the form of property tax?

Yes, get over it and get used to it. Just like your car.

imitation

Dob74 wrote: »

So what the gov in proposing is letting off the older generation who bought there homes for peanuts. If young people have to pay 140 a month so should these old gee bags.

Its laughable to think that the older generation had it easier, mortgages with 15% interest rates anybody ?

I thought there was supposed to be an exclusion for people who had paid stamp duty, although its hardly surprising if it evaporates.

Property tax is the only equitable solution, stamp duty is an abomination that should be removed as soon as possible, its a corner stone of what caused the bloated spending the government has to deal with now. A properly setup Property tax with out stamp duty takes a heavy burden off low income buyers and taxes a large form of wealth that has gone un taxed for many years.

nesf

Dob74 wrote: »

So what the gov in proposing is letting off the older generation who bought there homes for peanuts.

The older generation's houses were cheaper because interest rates were so much higher. They got screwed over in repayments as much as the younger generation has been. The only saving grace was that inflation was so high as to make repayments dip strongly in real terms over time, though the flip side of this meant that any savings you had put aside would be equally savaged.

Dob74

nesf wrote: »

The older generation's houses were cheaper because interest rates were so much higher. They got screwed over in repayments as much as the younger generation has been. The only saving grace was that inflation was so high as to make repayments dip strongly in real terms over time, though the flip side of this meant that any savings you had put aside would be equally savaged.

No they didn't. First of all they had to have a down payment whic would have bee 20% of there house. Second of all they wouldnt have got a mortgage for more then 3 times there wage keeping the price down. And third it was possible to buy a house for cash if you where decent saver.

So all these schemes first time buyers grant, mortgage interest relief do is push up prices. So I am still sick of paying for these old bastards that dont want to pay there fair share.

The old should have to pay there fair share. 15% mortgage rates was matched by 15% inflation so Fcuk em

nesf

Dob74 wrote: »

No they didn't. First of all they had to have a down payment whic would have bee 20% of there house. Second of all they wouldnt have got a mortgage for more then 3 times there wage keeping the price down. And third it was possible to buy a house for cash if you where decent saver.

So all these schemes first time buyers grant, mortgage interest relief do is push up prices. So I am still sick of paying for these old bastards that dont want to pay there fair share.

The old should have to pay there fair share. 15% mortgage rates was matched by 15% inflation so Fcuk em

Sure but ability to pay was what mattered not the headline price of the house. People were just as cash strapped trying to pay off the mortgage then as we were before the property crash. The only difference between then and now was that people accounted for interest rate increases and people during the boom didn't.

Cookie_Monster

Mr CJ wrote: »

People who got screwed with stamp duty should be given credit towards the new property tax to the amount they payed for in stamp duty!!

who got screwed with stamp duty exactly, everyone buying a house knew stamp duty existed and would have to be paid... it's not like it came as a surprise to anyone

Ogham

flanzer wrote: »

Correct me if I'm wrong, but if you're on mortgage interest relief, you won't have to pay it

No - it's Mortgage Interest Supplement recipients that are exempt - i.e Mortgage holders who are on Jobseekers / Income Support .

Mortgage Relief is payable to everyone (regardless of income) - ( one of the many things that helped fuel the property boom.)

Bruthal

Cookie_Monster wrote: »

who got screwed with stamp duty exactly, everyone buying a house knew stamp duty existed and would have to be paid... it's not like it came as a surprise to anyone

Just because people know about a tax does not mean they are not being screwed by it.