5 December 2015
By Bryan Smyth
Fine Gael TD for Cork South Central, Jerry Buttimer, has welcomed the news that the revaluation date for Local Property Tax (LPT) rates has been postponed until 2019.
“The Minister for Finance, Michael Noonan, has published the Local Property Bill 2015 which postpones the date for revaluation of LPT from 2016 to 2019. This is particularly relevant in urban areas like Cork where property prices are relatively high.
“The postponement of the revaluation date means that home owners in Cork will not face significant increases in their LPT in 2017.
“This Bill also allows for exemptions from LPT for property owners with pyrite issues and introduces reliefs from LPT for properties occupied by someone with a disability.
“The extra time before revaluation will allow for other recommendations from the LPT review to be considered.
“Fine Gael has a long term plan to keep the recovery going and part of that plan is to implement affordable, sustainable improvements in services using the resources from growing employment.
“It is vital that affordable LPT rates are set that take into consideration increases in property values.
“The introduction of this Bill is very much to be welcomed, but it is important that we continue to work hard and ensure more people feel the benefits of a recovering economy.”