Reforms to property tax legislation approved at Dail

Reforms to the property tax legislation were approved at the Dail yesterday (March 5th) following a day of rowing on the proposed changes.

Debate over the Finance Local Property Tax Amendment Bill carried on for two-and-half hours at committee stage before finally being passed, the Irish Times reports.

Finance Minister Michael Noonan defended the legislation, which will base tax on the market value of a home following a self-assessment.

Suggesting that property owners can get advice from the Revenue Commission on valuing their homes, Mr Noonan added “;it’s up to people what value they attribute to the house”.

The Irish Times also quoted the minister as saying: “;All we’re asking is to put a value on it and if a resident is seriously impacted by the activity of the household, whether its farming or business … and if that reduces the value, that will be reflected in the self-assessment.”

Certain property owners may be exempt from the legislation, however, including those affected by pyrite, which can erode the value of the house.

The next stage for the legislation is the Seanad.

Last updated: 6th March 2013