Home News Irish homeowners to face major property tax shock in 2018

Irish homeowners to face major property tax shock in 2018

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Homeowners are to  face a major property tax shock if Europe forces us to revalue our homes next year according to reports.

Owners of houses in Dublin  will face a minimum increase in Local Property Tax of €200 a year – wiping out any income tax gains homeowners hope to claw back in Budget 2018.

Given that Local Property Tax is decided by the value of your house, the recent rise in house values means that it is likely any review will be accompanied by swingeing increases in property tax.

The hikes are set to be even steeper in Dublin, where property prices have increased by two thirds since the low set by the crash.