THE RATE OF LOCAL PROPERTY TAX being paid by home owners is to be frozen until 2019 under legislation the government hopes to pass by Christmas.
It means that people whose properties have increased in price or have been improved will still pay the same rate of tax that they have since the original LPT valuations in 2013.
The freeze on property tax, which was confirmed in last month’s Budget by Finance Minister Michael Noonan, follows the recommendations of a report by former civil servant Dr Don Thornhill.
It had originally been envisaged that the May 2013 valuation of properties would be valid until 31 October 2016 when another round of valuations would take place to account for property price increases and home improvements.
“The postponement means that home owners will not be faced with increases in their LPT in 2017 as a result of increased property values,” a government spokesperson said.
The new legislation will also give effect to two other recommendations in the Thornhill report, including exempting homes damaged by pyrite and offering LPT reliefs on properties occupied by persons with disabilities.
The government said the other recommendations of the Thornhill report would be considered by the next administration.