The Local Property Tax is set to remain the same in Limerick in 2021
Homeowners in Limerick will pay the same level of Local Property Tax in 2021 as they did this year, it has been confirmed.
At the September meeting of Limerick City and County Council, members voted in favour of increasing the LPT by 15% from the base rate.
In effect, this means there will be no change for homeowners who will not see any change next year.
Every year the LPT automatically returns to the base rate which is set by government. However, councillors across the country have the option to alter the rate by up to 15% above or below this baseline rate.
The decision of councillors today means around €2.36m will be collected in Limerick in 2021.
#BREAKING: Homeowners across #Limerick will not face an increase in the Local Property Tax in 2021 after councillors agreed a freeze to keep the rate at 15% above base rate. Full story on @limerick_leader tonight.— Nick Rabbitts (@Nick468official) September 28, 2020
A spokesperson for the local authority says this money will be spent on new plant machinery for the upkeep of Limerick’s roads including road sweepers and tar sprayers, funding for the Fire Service and to tackle dereliction and vacancies, public realm improvements.
It will also be used to provide matching funding required for large scale transformational projects under a number of government schemes and the development of Limerick’s tourism potential.
As part of the commitment to front load many initiatives, the Council has already invested 1.5 million in new plant machinery such as velocity patchers, high pressure washers, gritting truck and chip spreaders.
The LPT decision comes against a backdrop of a possible €3million shortfall for Limerick City and County Council in 2020 due to the impact of Covid-19.
The budget for 2021 is due to be voted on in November.