Property prices are on the rise in Kilkenny, and a revaluation of property tax is on the way
Homeowners in Kilkenny could be in line for a sharp rise in the amount of Local Property Tax they’re paying, in part thanks to the steady increase in property prices.
Prices in some parts of the country have as much as doubled in recent years, and a revaluation is set to take place in 2019. Based on the current increases, the cost of property tax in Kilkenny could rise by almost 40% according to some estimates.
Meanwhile, and of more immediate significance, it is not yet known whether local councillors will opt to vary the current basic rate of the LPT here when they meet next month. They have the power to to increase or reduce the rate by up to 15%, or keep it as is.
In previous years, the council executive has recommended that an increase of at least 5% to the basic rate be considered to ensure a balanced budget and maintain funding levels. Since its introduction in 2014, councillors here have opted to maintain the rate, while some councils around the country have decreased it.
However, in Kilkenny, an increase of even 1% would be worth around €80,000 in additional revenue, while a full 15% increase would be worth over €1 million.
Kilkenny County Council will now meet in September to consider the setting of this local adjustment factor. The deadline for public submissions is Monday.
You may make a submission online at this link: consult.kilkenny.ie or in writing to:
Head of Finance,
Kilkenny County Council,