Minister for the Environment Phil Hogan has insisted that the new property tax will not cause any damage to the housing market.
Details of the new tax will be unveiled in December’s Budget but Minister Hogan said it would not come as a surprise to anyone, therefore would have little or no impact on the market.
He said that tax was “in line with the agreements we have with the troika and in line with what we presented to the Irish people in the February 2011 General Election.
“We do not want to impose any additional tax burden on people at work, and we have to broaden the tax base in order to achieve that,” said the Carlow/Kilkenny representative.
“It is not a surprise that people are going to be paying a property tax so it is a question now of the detail implementation of that particular tax measure.”
