No change to property tax for Limerick homeowners

THERE will be no changes in the Local Property Tax (LPT) for Limerick homeowners in 2023.

At the full local authority meeting this week, councillors voted in favour of keeping the LPT and its variation rate at 2022 levels for the next two years.

It means, as was the case last year, the tax will be 15% above the base rate for both 2023 and 2024.

Since the introduction of the LPT, councils across the country have had the option to either cut the tax by 15%, keep it as proposed by government, or hike by 15%.

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Councillors in Limerick have consistently voted by a majority to adopt the higher rate, pointing out that it has helped pay for local services including this year, new gritting trucks and road sweepers, a chip spreader, and a hot pressure washer for footpaths.

The only party to push for an LPT reduction was Sinn Fein, whose leader on the council Sharon Benson once again made the case for a cut.

However, after she forced a vote on the matter, she was defeated by other councillors.

The move now means homeowners whose houses are valued up to €200,000 will pay €103, those with homes valued up to €262,000 will be asked for €258.

And those whose homes are valued between €262,501 and €350,000 will face a yearly bill of €362.

The vast majority of houses in Limerick fall into these bands, council says.

The revenues collected by Limerick City and County Council will however fall by €261,428 in 2023 compared to 2022, due to the overall re-valuation of homes and consolidation of bands by Revenue.

Council’s deputy chief executive Sean Coughlan said: “While there is a decrease in the revenues generated by LPT next year, our intention is to retain services at 2022 level is so far as possible.”