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Help! How much is this worth?

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    #92
    bangersandmash
    Closed Accounts Posts: 686 ✭✭✭bangersandmash


    smccarrick wrote: »
    [*]Imposition of a gradiated property tax (could be 1% on first 150k, 1.25% on next 150k, 1.5% on next 100k and 2% on all valuations over 500k) (the tables that have been leaked thus far are along these lines)
    Where did you get the above figures? The last leak I saw in The Tribune involved bands where a fraction of the value would only be considered at the "trophy home" level:
    It is understood the lowest charge will be about €600 to €750, with bands for more expensive houses stretching well into the thousands. Once a house is worth over €1.5m, the tax is administered as a proportion of the house value.
    Judging by the current government's past taxation strategies, I'd assume that the initial tax levels would be comparatively low to get the public accustomed to paying the tax, and would be incrementally increased thereafter.

    That said I'd imagine resistance to a value-based property tax will be particularly significant in urban areas, where people could face paying thousands of euros per year to live in very modest accommodation in very ordinary areas.

    We would also have a strange situation where property values would be propped up by NAMA using taxpayers' money. The same taxpayers would then pay more property tax because values are being kept artificially high.


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    #93
    iguana
    Moderators, Entertainment Moderators Posts: 12,916 Mod ✭✭✭✭iguana


    D3PO wrote: »
    well im assuming the tax wont be taken directly from your salary so you will have to actually pay the tax. I see a lot of people refusing to pay.

    But then they will take you to court, you will be court ordered to pay. If you still don't pay you will be jailed for being in contempt of court. If they bring this tax in they will stamp down hard on non-payers, to scare everyone else into paying. Just like they do in the UK with council tax.

    And it will be the type of tax that if they bring in they will get all the main parties to agree on. Just like neither big party in the UK will significantly alter council tax. If the state coffers need it, it will be brought in. Don't get me wrong, there is HUGE scope for the government to cut back on expenditure. Severely cutting TD salaries and expenses, a large reduction in the amount of TD's, streamlined local government and abolition of the Seanad would save a bloody fortune. But none of the big parties will ever favour these measures because it would hurt them in their own pockets. the opposition would rather quietly let the government introduce new taxes than oppose them and have to change their own lifestyles.

    Imo, property/poll/council tax in Ireland is a foregone conclusion. It will happen in the next budget or the one after. As will water rates, with the water treatment and supply contracts being sold to private companies.


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