Price rises and the property tax
Sir, – Your recent report on property tax by Fiach Kelly (April 5th) and the views of commentators that the economy and the housing market are now picking up are a timely warning to all homeowners that the property tax time-bomb is already ticking.
Last year almost 97 per cent of homes were returned to the Revenue Commissioners at values under €500,000. However, the new property boom is on its way and houses valued in May/June 2013 at, for example, €375,000, have now jumped to €500,000 and beyond. Homeowners who have been paying €14 a week will easily qualify to pay more than €20 a week, or €1,000 a year, when the next review comes around. And it will not stop there. There is something patently unfair about a tax on a home that rises dramatically at the whim of the markets.
May I appeal to your homeowning readers to raise this issue with candidates in the local elections? I hope that they will ask candidates what their attitude is to runaway house prices that automatically raise the taxes of homeowners, and ask what their parties propose to do about it. Any solutions offered should be noted, and voters should seek the application of necessary measures soon rather than having to wait for a review some years away. Additionally, homeowners should remember party responses now with an eye to the next general election. Yours, etc,