A review of the Local Property Tax is necessary because property values have not been adjusted gradually, a leading economist has said., professor of Economics at Dublin City University told Newstalk Breakfast “unfortunately it is necessary, we do need taxes to deal with all sorts of crises such as health and housing, so there is a need for a tax review.”
Increases in the LPT had originally been due this year, but the government instead sent the tax for review amid fears that householders – especially in Dublin – would be hit with sharp increases driven by rising property values in the capital and other urban centres. If the issue is trying to raise local taxes then perhaps there should be a system to pay for local services, he suggested. Maybe there is a need to change the way local government is run, he added.