€9 million in Local Property Taxes collected in Louth in 2018

€9 million was collected in Local Property Taxes in Louth in 2018, according to statistics released today by Revenue.

50,500 properties in the county made a return, the totalling €9 million represents a compliance rate of 95.6%.

While this may appear a high compliance rate, it is behind the national compliance rate of 97%.

The Dundalk Democrart spoke to Louth Councillor Conor Keelan, who gave some insights into the LPT in Louth.

“The collection of the Local Property Tax (LPT) has been outsourced to the Revenue Commissioners”, said Cllr Keelan. “Based on my understanding the collection rates have been of a similar pattern over the past number of years.

“Louth is one of 21 local authorities that are net recipients of the LPT. We currently benefit from an Equalisation Fund into which “wealthier” Councils give a top-up payment and this is re-distributed across the state.

The Dundalk councillor continued,“there is a review of the LPT ongoing at present. Based on soundings emanating from the Fine Gael Government, and press leaks, it is likely that properties built since 2013 will lose their present exemption.

“It is noteworthy too that property values have risen significantly since the introduction of LPT so this will likely be a significant factor during and after the review.

“As LPT is now such a significant revenue source it will remain in place.

“Since 2014, in particular, this revenue stream has been of ever increasing importance for local authorities such as Louth; currently accounting for over 9% of our projected income for 2019.

“For sometime now several of the wealthier Councils, particularly Dublin, have expressed opposition to the Equalisation Fund and recently the Government have said they are looking at scrapping it.

“In the absence of significant improvements in Local Government funding from Central Government this could have significant implications for Councils like Louth going forward”, Cllr Keelan concluded.