Property Tax in Ireland is on the way.
If the government and the Revenue can get things sorted - they hope to be collecting the tax from July
It won't be easy - given the poor registration levels for of the Household Charge. Thousands won't bother registering at all - and it will take loads of man hours and letters and money to track down all the homeowners in Ireland.
Eventually though - if the tax is kept on for ever - when a house is sold it will have to be paid.
But that won't help boost the poor finances of Ireland right now .
How Much Property Tax Will I have to Pay ?
We have a table showing the calculations for a range of house values .
Check out how much property tax will be for you here
The main problem is going to be how to work out the value of your home.
Revenue have produced an interactive valuation guide see more about that Property Tax Valuation Map
Owners will be expected to declare the value of their property - but how will they know what it is worth ?
The only reliable source of house prices is the government property price register . The problem is - that with so few sales - there is not a lot of information to see for many areas Even if there have been sales near you - there is not a scrap of useful information on the price register that allows you to compare houses . The register doesn't have any info about the house type (detached , bungalow, apartment, terraced) or the number of bedrooms . So - no valid comparison can really be made.
It will just be guesswork - with most people probably going for a low value.
I can see thousands of people just declaring the value as low as €50,000 just to pay the minimum charge.
Self assessment is just a way to avoid doing the job properly. Another hashed attempt at pleasing the IMF - which will result in a mess.