Two thirds happy to have property tax taken from their wages

Two thirds of property owners would be prepared to have the forthcoming property tax deducted from their wages, according to a new survey.

From July 1^st, the annual local property tax will apply to the vast majority of residential properties in Ireland, with about 1.6 million properties estimated to be liable for payment.

The collection of the controversial tax will be administered by the Revenue Commissioners, with property owners liable for a half-year charge in 2013.

According to a survey by Taxback.com most respondents said they intended to comply with the new property tax, but many expressed concern about the valuation process.

Almost two-thirds of those surveyed said they did not have a problem with money being taken from their monthly salary to cover the property tax bill.

Meanwhile, just over one in five said they would opt to pay the tax incrementally while almost three in five employers said they had no concerns about withholding the property tax from employees’ salaries.