Property Tax for Millstreet

Yesterday’s Irish Examiner carried an article on “What the property tax could mean for your pocket“. Below are the details for Millstreet. It is expected to be introduced next July at a rate of 0.25% of the house value (though the IMF are putting pressure on for it to be set at 0.5%, which would mean that the tax outlined would be doubled)

Average asking price in Q2 2012 was €110,758 => €277 tax
Peak prices in 2007 was €262,289
Prices have fallen by an average of -€57.8%
Average price for a two-bed property was €69,843 => €175 tax
Three-bed property was €98,420 => €246 tax
Four-bed property was €166,875 => €417 tax

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