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Kenny assures homeowners that property tax rates won't explode

The Government is planning to review property tax rates as the price freeze nears an end.

Image: Laura Hutton via Photocall Ireland

Updated 8pm

THERE MAY BE some good news ahead for cash strapped homeowners.

The Taoiseach has confirmed that the Government is planning to review property tax rates so they won’t be able to soar in the years’ ahead.

The property tax is directly linked to the value of houses and given the rise in house prices – many homeowners were facing a higher bill in the near future.

The tax was frozen for the first three years based on how much the house was worth on May 1, 2013.

As that valuation period runs out at the end of 2016 - Enda Kenny says the Government is now looking into easing the tax.

He said the review plans to avoid ‘an explosion’ in property tax rates.

We don’t want a situation where people have an explosion in their requirements for property tax.

“We will look at a number of options in respect of property tax, including whether you increase the allocation from 85% to 100% to local authorities because that’s what they requested in terms of the devolution of responsibility.”

Read: Warnings of an “uncontrollable” rise in Local Property Tax>

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