The most egregious example of this is the way that gains realised from the sale of an owner-occupied house are favoured above all else. Photograph: Getty Images
Across the country, homeowners have been receiving letters from Revenue reminding them to file a Local Property Tax (LPT) return in the coming weeks.
This involves making an updated valuation of their property that will determine their LPT liability for the next five years.
With house prices nationally having increased by 30 per cent since the last valuation in 2021, homeowners might be expecting a Halloween fright in the form of a much larger tax bill.
Instead, reforms announced by the Department of Finance earlier this year will see more than 90 per cent of properties stay in the same valuation band. Together with a cut in the rate of tax applied to these bands, most homeowners will see a negligible increase in their bill.
Continue Reading on The Irish Times
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.