Irish households are bracing for a notable increase in their Local Property Tax (LPT) bills,beginning November 1st,as rising ‍property values translate into ‍higher taxes. The increases are occurring during a period of already heightened cost-of-living concerns, prompting criticism of the government’s ‍response.

the LPT ⁢is ​calculated based on the market​ value of residential ‍properties. ⁣ According to the Revenue ‍Commissioners, the revaluation process, the first in several years, reflects recent property price increases. this means ​many homeowners will see a substantial jump in their annual LPT liability.

Sinn Féin’s Kerry TD, Pa Daly, has been vocal in his criticism, arguing that the LPT increases represent a “huge burden,” particularly for those‍ with substantial mortgages and older individuals relying on fixed, lower incomes. He contends​ that‍ the Taoiseach has not adequately acknowledged the financial strain these increases will place on vulnerable households.

While Sinn Féin has proposed abolishing the LPT altogether, Deputy Daly⁢ is currently urging the government to implement immediate measures to mitigate the impact of the “crippling increases” for those​ most affected.

The timing of these increases, amidst an‌ ongoing cost-of-living crisis, is particularly concerning. We need to see concrete action to protect those who can least afford it. – Pa Daly, Sinn Féin TD (October 26, 2023)

Statement released to media outlets

In Kerry, the Local Property Tax rate is set ⁣to ‌remain at 10% for the next three years, as reported by Radio Kerry. though, even with a stable rate, the increased valuations will ⁣still result‌ in higher ‍bills for many property owners.

Homeowners are encouraged to review⁢ their LPT valuations and understand their obligations. ⁢Resources and data are available on the Revenue Commissioners’ website.