Local Property Tax

With Phil Hogan summoned to the High Court, this is an excellent little piece, on the property tax. There should be no tax on the family home.

http://namawinelake.wordpress.com/2012/12/08/of-the-week-40/

Of the Week…

December 8, 2012 by namawinelake

Scratchcard Economics of the Week

There is growing unease about the Government’s calculation of yield from the property tax. Not only was there no obvious cognizance taken of the existing €160m household charge or the €70 Non Principal Private Residence in Budget 2013 workings – you’d expect the  non-continuance of these two taxes to be shown alongside the €250m to be raised from the property tax in 2013 and the €500m in 2014. After all, if there is not to be any household charge or NPPR in 2014, then you would need deduct €230m from the €500m and in 2013, deduct €160m from the €250m.

There doesn’t seem to be any great foundation to the estimate of yield for property tax, which is strange given the expert report was on Minister for the Environment, Community and Local Government Phil Hogan’s desk since June 2012.

Seems like the Government has committed to a measure but will only know how much it will bring in, at the end of 2013. Kinda like buying a scratch card and only afterwards finding out if you have won anything.