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Won’t someone think of the children? Property tax increases so. December 20, 2016

Posted by WorldbyStorm in Uncategorized.
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Apparently, and this in the SBP at the weekend, the National Competitiveness Council is seeking a ‘revaluation of the country’s 1.8 million homes to be brought forward to increase the current property tax revenue’.

Why?

NCC Chairman Peter Clinch said the council was worried about having too narrow a tax base, a sharpened in the run up to the economic crash. ‘We feel it is important that this is not put on the long finger’.

I can’t imagine that would be popular, though the scope for pushing back given that collection is now with Revenue would be fairly limited. Odd the way he puts the following though:

Clinch said that at a time of severe competitive threats such as Brexit and potential shift in the US economic policy under President Donald Trump, the future of the country’s children had to be protected.

Of course it’s not as if LPT increases won’t themselves impact on at least some of the country’s children. But what’s concerning is how vague all this is.

In its annual report the NCC expressed concern that the government’s plan to abolish the USC would also narrow the tax base and put the country’s prosperity at risk. It is worried about other competitiveness threats, such as the rising cost of housing putting on more pressure for wage increases.

And yet why fret about LPT at this point when we’re in a time of increasing uncertainty when income taxes which cover a broader range or the population and are also collected through Revenue might be increased? Or why not lobby to prevent USC from being abolished and/or lobby for its increase?

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1. dublinstreams - December 20, 2016

NCC Publishes Ireland’s Competitiveness Challenge 2016 Courageous decisions taken today can secure a sustainable, prosperous future for the Irish people”.

Property Tax …. “A revaluation of self-assessed property values used to calculate local property tax liabilities was initially planned for 2016, but has been delayed by three years to November 2019. This decision represents a lost opportunity to broaden the tax base as residential property prices have increased substantially since the first self-assessment in 2013, especially since the European Commission recently has found no evidence of over-valuation in residential property sector. The Council believes there is no rationale for a prolonged freeze in revaluations.”….. http://www.competitiveness.ie/News-Events/News%20Events%202015-2016/NCC%20Publishes%20Ireland's%20Competitiveness%20Challenge%202016.html

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