ALMOST two thirds of houses in Limerick are valued at less than €150,000, it was revealed at the first full meeting of the joint local authority this week.
Property valuation bands based on property values as of the May 1, 2013 show that 65% of houses in Limerick city and county are valued at less than €150,000.
The information was provided at a full meeting of Limerick City and County Council at County Hall, Dooradoyle this Monday where an item on the agenda focused on the passing of a resolution to vary the basic rate of local property tax for 2015.
A report presented by Head of Finance, Tom Gilligan, indicated the Local Property Tax Amendment Act 2013 stipulates that the percentage by which the basic rate should be varied - the local adjustment factor - is not permitted to exceed 15%.
Cian Prendiville of the Anti-Austerity Alliance party said the local property tax was akin to “robbery” of working class and unemployed people saying it was “taken out of their pockets through intimidation and going into people’s payslips and taking it out”.
The council meeting heard that the value of a potential increase or decrease in 2015 LPT allocation, if the maximum variation of 15% is implemented by Limerick City and County Council, is €2.4m.
“People would want to be very, very careful before they make this decision,” noted Cllr Liam Galvin after the agenda item was adjourned until next Tuesday when a special meeting will take place to discuss the matter.
“We all agree that the property tax has been very, very unfair on the people but at the end of the day we have a duty to run our local authority,” Cllr Galvin added.
The finance report shows that 88% of the Limerick population would experience a difference of between €1.13 and €3.94 per month based on the lowest and highest local adjustment factor.
The council meeting further heard that a total of 23% of houses in Limerick are valued at between €150,000 and €200,000 while 12% are valued at over €200,000.