Fingal residents could save €100 in LPT in 2015
HOUSEHOLDERS in Fingal could save on average of €60 to €100 next year in property tax after councillors became the first in Dublin to indicate their intention to cut the LPT by 15pc.
Fingal representatives are following Cork county councillors, who signalled their intention to reduce the LPT by 15pc last month.
Fingal council has the discretion to consider a cut but fears were expressed last night it could have a knock-on effect on services due to a likely €5.2m shortfall in the council's coffers.
"I think people should be told which playgrounds and parks will close, where will the grass not be cut, what roads will not be repaired if this proceeds. I think people need to know that," said Independent councillor David O'Connor.
At Monday's meeting, Fingal councillors passed a Fianna Fail motion calling on the Government and council to facilitate a reduction of the LPT by 15pc in 2015.
Fine Gael and Labour councillors implored their colleagues to defer the motion until September, when the council will know its Central Government funding allocation for 2015.
Property tax receipts were €32.5m in Fingal for the last six months of last year, and a 15pc cut would see a reduction of more than €10m in council finances next year if similar figures are replicated over a full year. Cllr Brian McDonagh (Lab) said councillors "needed to look at the budget rationally, at the impact on services and then decide what to do".
Cllr David McGuinness (FF) said the LPT was an "anti-Dublin charge" and Sinn Fein's Paul Donnelly said he opposed the LPT when "families were struggling to put food on the table".
According to the Real Estate Alliance Average House Index, the average price of a three-bed semi in Fingal is now €232,500, which costs €405 in tax.
However, a 15pc cut in LPT would see Fingal residents save €60.75 next year. Savings would be greater for residents with houses worth up to €300,000, who are expected to pay €495 next year, or €420,75, if the 15pc cut is implemented. People with houses valued up to €400,000 could expect savings of €101.25.