Cautious welcome for property tax move

Cautious welcome for property tax move

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EUROChambers Ireland has welcomed the decision to allow Clare County Council to retain 80% of the Local Property Tax (LPT) collected within its area.

Mark O’Mahoney, Director of Policy and Communications, Chambers Ireland said, “It is vital that funds raised through the LPT are used to provide a sustainable funding base for Local Authorities. This will help provide a new level of autonomy for local government, and importantly, it will encourage accountability at a local level.”

“We welcome the efforts made by Government towards ensuring equitable funding for Local Authorities across the State, particularly in regions where the revenue raised by the LPT would not be sufficient to meet the budgetary requirements of the Local Authority,” added Mr. O’Mahony.

He warned however: “Research shows that in the majority of Local Authorities, any reduction in the LPT rate would result in a corresponding funding shortfall. We urge any Local Authority considering a cut in the LPT rate to take note of these figures and ensure any reduction does not lead to a decline in the level of services provided by the authority or an expectation that local businesses will make up the shortfall.”

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