Homeowners need to be protected from disproportionate property tax increases – Madigan

Homeowners cannot be disproportionally hit with any property tax increases, a Fine Gael TD has said.

Josepha Madigan – a Dublin Rathdown TD – has welcomed the comments by An Taoiseach and her party leader Leo Varadkar that he will work “might and main” to protect homeowners from increases in property tax rates.

“The Taoiseach’s comments are very welcome at this time. The local property tax is a major issue for homeowners in my constituency of Dublin Rathdown,” Deputy Madigan said.

“Local Property Tax has been a priority of mine throughout my time as a public representative.

“I voted to retain the 15% reduction for Dún Laoghaire Rathdown when I was a councillor and I raised the issue in my very first speech in Dáil Éireann in April 2016.

“It is my view that high and increasing property values mean that under the current system a disproportionate property tax burden falls on homeowners in Dublin Rathdown and other constituencies with similar property markets. For many, incomes simply cannot keep pace with rising property values.

“People in my constituency, like the rest of the country, are doing their best to make a living in a recovering economy. However, they cannot be hit with exorbitant property tax hikes from outside influences,” Deputy Madigan said.

“Local Property Tax rates are currently frozen at 2013 property values but a revaluation is due in 2019.

“As property prices have already increased significantly and are likely to continue to rise, the possibility of a major hike in tax has been of great concern for some time.

“An Taoiseach’s comments, therefore, are highly welcome and indicate that this Government will not allow substantial property tax hikes.

“CSO figures note that South Dublin house prices, including those in my constituency of Dublin Rathdown, have recently risen at a faster rate that the rest of Dublin.

“Daft.ie figures consistently show that South Dublin property is already priced higher than the rest of the country. This raises a significant concern that South Dublin property owners will be hit with a disproportionately high property tax bill once properties are revalued in 2019.

“I will continue to highlight the concerns of my constituents- and people all around the capital- regarding property tax and ensure a solution is found,” Deputy Madigan said.