Two more Dublin councils adopt largest property tax discount

Councillors in Dún Laoghaire-Rathdown and South Dublin County Councils have voted for the maximum discount allowable for Residential Property Tax in 2024.

The Local Property Tax, which is based on the value of a property, has a base rate that can be varied by plus or minus 15 per cent by each local authority.

At Dún Laoghaire Rathdown County Council motions calling for the full 15 per cent reduction were tabled by Fianna Fáil and Fine Gael.

Michael Clark of Fianna Fáil said the move was to ensure that “the cost-of-living crisis does not bite as hard as it could”. He said Dún Laoghaire Rathdown was “not a county of plutocrats” and expressed concern for “pensioners living on fixed incomes”.

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Barry Saul of Fine Gael said the local property tax was unjust. He said the Fine Gael group would continue to propose the maximum reduction, “and continue to look after the citizens of Dún Laoghaire Rathdown”. He said the party councillors proposed the full 15 per cent reduction “as we have done every year”.

However, Cllr Dave Quinn of the Social Democrats asked the council to consider a zero per cent reduction that would add more than €8 million to the council’s budget. But he said the council should refund all those who lived in a house valued at less than €700,000. In this way he said the tax would be paid by those who could most afford it and the council would have vital finance for community development.

Cllr Peter O’Brien of Labour proposed a 10 per cent reduction, also citing the need for community funds.

Cllr Daniel Dunne also recommended a 10 per cent cut in the base rate and he was supported by a number of cross party councillors.

Cllr Hugh Lewis of People Before Profit said he opposed the introduction of property tax and had consistently opposed it ever since. He paid tribute to Mr Quinn’s proposal to refund those who lived in houses worth less than €700,000 but he said the problem was one that central government should solve.

After a series of votes the council passed the 15 per cent maximum discount by 29 votes to nine.

In adopting the maximum discount available, the council followed Dublin City Council which last week also opted to apply a 15 per cent discount.

Members of South Dublin County Council also met on Monday night and voted by 27 votes to seven, with one abstention, to apply the maximum 15 per cent discount.

Members of Fingal County Council voted last year to apply a rate of 7.5 per cent and to fix it for two years.

According to the Central Statistics Office (CSO), the median price of a dwelling purchased in the 12 months to June 2023 in Dún Laoghaire Rathdown was €630,000.

The Local Property Tax calculator on the Revenue Commissioners’ website shows that a house valued at the €630,000 median would be liable for the annual tax of €675 – but after the local authority reduction of 15 per cent, it will amount to €573, a reduction of €102.

The CSO median house price was not immediately available for the Dublin City Council administrative area. However, the Revenue’s Local Property Tax calculator shows that a home valued at €262,501-€350,000 would incur a tax charge for 2023 of €315 if the base rate was applied. The same home would incur an annual tax of €267, or €48 less, if the local authority reduced the base rate by 15 per cent.

In both Fingal and South Dublin County Councils the median house price was €410,000 in the 12 months to June, according to the CSO. This is Band 4 in the Revenue’s Residential Property Tax calculations and provides for a base rate of €405. The 15 per cent discount reduces this to €344.25.