Padraig Hyde & Sons,
Auctioneers, Valuers & Estate Agents,
Property Management & Maintenance Services.
117 North Main Street, Youghal, Co. Cork.
TEL: 0818 555 700
 024 - 91355

10 things that are wrong with the property tax

{ Posted on Jan 22 2013 by admin }
Categories : General

1. Its levied on the value of the house – If affluent people decide to pay more for properties in your area, then congratulations! – your property tax bill will increase as a result.

2. It takes little account of income – The property tax severely limits income thresholds when levying the tax, leading to a heavy burden on the income and working poor. No graduations to take account of income apply.

3. Deferred your property tax because of low income? Congratulations! Enjoy the 4% interest penalty imposed by the government.

4. Energy efficient renovations completed? Attic converted? Gardens taken care of? Walls regularly painted? Congratulations! – You’ve just increased your tax bill by improving your property.

5. Property tax is another tax on already taxed income and is levied on what for the vast majority of people is a non-income producing belonging.

6. Paid thousands of stamp duty in recent years? Council levied you excessive development rates when you built your home? Congratulations – You are about to be triple taxed on your (non-income producing) home.

7. Live in an urban area? Congratulations! You will pay more tax than your rural compatriots for a similar property.

8. In other countries such as Britain, services such as bin collection are included as standard in property taxes. In Ireland, they charge extra.

9. The tax is levied on the owner of the property rather than the occupier.

10. Despite being touted as a tax to fund local services, the tax makes no effort to quantify how much a person utilises those services.

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