BUSINESSES in the capital will enjoy a 5pc cut in commercial rates, while social housing and homelessness services are also set to benefit as Dublin City Council announced its 2015 budget.
The rate reduction follows a downward trend in the commercial property tax, and will further ease strain on employers in the year ahead.
Social housing will receive €338.6m from the council under the capital programme over the next three years.
The additional €2.2bn announced by Environment Minister Alan Kelly in this year's Budget was not included as the council said it had not yet been informed how this money would be allocated.
Homelessness services will receive €59.02m in 2015, more than €7m of an increase on last year.
The 2015 council budget, which amounts to a total of €771.32m, was passed at Dublin City Hall last night with a majority of 36 to 25.
This year's budget incurs almost a €50m withdrawal of central Government funding, money that will be replaced with proceeds from the Local Property Tax.
Amendments passed at the meeting saw an additional allocation of €1.7m to a number of causes, including €900,000 for cleaning and maintaining footpaths and roads, and €200,000 in preparatory costs for the Easter 1916 commemorative events.
A further €57,392 will be provided for the appointment of a Dublin City Planning Officer and €42,608 for a Dublin Cycling Officer.
Lord Mayor of Dublin Christy Burke said he was pleased that a further €9m will be sought for homelessness services next year.
He added: "I'm delighted there is funding now in the budget for the Right to Read campaign, which is vitally important, to be administrated through our libraries.
"I'm also happy about funding for cleaning our streets."