Volume 70 (2022): Issue 4 (December 2022)

Dziennik i szczegóły wydania

Informacje o czasopiśmie
Format: Czasopismo
eISSN: 2449-9471
Pierwsze wydanie: 15 Apr 2015
Częstotliwość wydawania: 4 razy w roku
Języki: Angielski

Wyszukiwanie

A review of Ireland’s Local Property Tax

Data publikacji: 24 Dec 2022
Zakres stron: 1 - 25

Abstrakt

Property taxes are common in countries around the world. Until recently, Ireland was an exception as there was no annual tax on residential property. This paper is a review of the Local Property Tax (LPT) system that was introduced in 2013 and had its first property revaluations in 2021. Using the lens of municipal finance and tax assignment, the rationale, history, features and administration of this new residential property tax are outlined. While recognising country-specific circumstances, lessons, opportunities and challenges are explored with a view to future improvements in the design and implementation of the LPT. Lessons from the LPT experience are the importance of tax administration and the role of the central tax collection agency, and, in terms of design, the need for a tailored approach to suit local circumstances. Challenges include the rates/LPT mix and the relative tax burdens on non-residential and residential properties, the long-term sustainability of the LPT arising from design issues, the current low tax rate and future revaluations, and, finally, the need for regular property tax reform because of political and taxpayers’ opposition to a highly visible, unpopular but good local tax.