Up to 25 different property tax bands being considered

According to the Sunday Business Post, ministers would like to introduce an extensive sliding scale based on the value of the property.

It is proposed that these 25 different bands will be based on €25,000 increments.

For example, one band could be between €350,000 and €375,000, with the next band rising to €400,000.

It is estimated the new property tax, which will replace the household charge next year, could cost homeowners between €300 and €500 a year with higher bills for more valuable properties.