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12/18/2012 12:00:00 AM


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Noonan, Michael

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Finance (Local Property Tax) Bill 2012: Committee Stage (Resumed) and Remaining Stages

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Finance (Local Property Tax) Bill 2012: Committee Stage (Resumed) and Remaining Stages

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Finance (Local Property Tax) Bill 2012: Committee Stage (Resumed) and Remaining Stages

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Michael Noonan

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Snippet Contents:

In the first year 65% of it will be transferred to local authorities, because obviously administrative measures must be put in place, and this percentage will increase. Over the space of a couple of years the total amount collected through this tax will be used by local authorities to fund the services they provide. When the estimate is being prepared by the new local authorities at the end of 2014 for the 2015 financial year, the newly elected local authorities will have the discretion of plus or minus 15% on the rate of the tax. It is up to subsequent Administrations to decide whether to transfer further discretion to local authorities or whether it will remain at plus or minus 15%. It is an evolving situation. This is a major structural change in the tax system of the country and Opposition Deputies know as well as I do it has been advocated for years. What is the biggest problem in this country at present? Unemployment. What does one get if one taxes work? One gets fewer jobs. I am not putting taxes-----