Monday 09 December 2019

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No change to property tax in city

Wednesday, 2nd October, 2019 3:56pm

Property tax in Cork city is to stay as is after a recent vote in City Hall.

Cork City Council has voted not to vary the Local Adjustment Factor (LAF) of Local Property Tax in Cork city. Under Section 20 of the Finance (Local Property Tax) Act 2012, a local authority may vote to vary the basic rate of the local property tax by a maximum of + or -15 per cent of the basic rate.

Lord Mayor of Cork, Cllr John Sheehan said: “Cork City Council decided not to adjust the local property tax. With an expanded new city, a majority of members felt that we should wait and see how the new areas and new financial picture emerges over the next twelve months.”

City councillors voted for a zero per cent LAF for 2017-2019. This has generated an additional income of €777,000 per annum in which equates to €2.331m over three years.

It follows on from Cork County Council voting for a five per cent rise to its local property tax.

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