South Dublin Homeowners must not be unfairly punished by property tax revaluation

Property tax must be a priority for discussion at this week’s Fine Gael Think In, a Dublin Rathdown TD has said.

Chair of the Budgetary Oversight Committee, Fine Gael Deputy Josepha Madigan, said solutions will have to be found for concerns that rising property prices in south Dublin will lead to home owners being hit disproportionately with the Local Property Tax.

Deputy Madigan said: “The 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.

“I will ensure property tax is a priority for discussion at the Fine Gael Think In later this week.

“I raised this concern at last year’s Think In and this year I will again work hard with my Ministerial colleagues- as well as the wider parliamentary party- to come up with solutions to the issue.

“I will make it clear to my colleagues that this must be dealt with as a matter of urgency. Ideally I would like to have a solution in place before the Budget, but if this is not possible then certainly shortly thereafter.

“While Local Property Tax rates are currently frozen at 2013 property values, a revaluation is due in 2019. Property values have risen considerably since 2013 and continue to do so. Unless changes are made to how Local Property Tax rates are calculated, property owners could be in for a significant increase in 2019.

“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.”

ENDS