More than a third of property tax revenue will be spread around the country

More than a third of revenue brought in from the new property tax will be shared out around the country.

The news comes after Taoiseach Enda Kenny revealed at the weekend that just 65% of revenue brought in from the new tax will be ring-fenced for the area in which it is collected.

Despite claims from some backbenchers that the new tax was unfair on Dublin dwellers, Mr Kenny said he didn’t “accept that it’s an unfair tax.”

He said: “It’s fair in the sense that those with more, pay more, particularly those with houses over €1m.”