A PROPERTY tax based on house valuation is set to be in force by the middle of next year as part of the Troika bailout programme, according to a report in today's Irish Times.
Minister for Finance Michael Noonan yesterday insisted the system had not been finalised, but the Cabinet has agreed the tax will form part of December’s budget.
The Cabinet is due to give further consideration to the issue at its first meeting after the summer holidays, which will be held next Tuesday.
In documents released last Friday, it emerged the Government has informed the Troika the property tax will be based on valuation. While Ministers insist no final decision has been made, it appears the rate of the tax is the only major outstanding issue.
Read more in today's Irish Times.
Source: Stephen Collins and Kathryn Hayes / Irish Times
