ESRI proposes property tax - €80 per month

New research by the Economic and Social Research Institute suggests that an owner occupier residential property tax of 0.4% of the value of each property could raise up to €1.1bn for the exchequer.

The institute's research found that the average amount of tax that a homeowner would have to pay would be around €950 a year, or around €80 a month.

The ESRI says there is a strong argument for such a tax.

It also suggests that there may be a role for a property tax on the rental sector, although the rationale would be different.

The average impact of such a tax would represent a fall of 1.3% in people's disposable income.
The ESRI suggests that as part of the establishment of the property tax, all 1.7m houses in the State would have to be valued.

But it says this could be done within two years using a computerised system combined with the skills of a team of valuers.

http://www.rte.ie/news/2010/1111/budget1.html