The journal.ie asked the political parties for their views on property tax. Their replies were as expected except for Fianna Fail who surprisingly have been persuaded by our arguments that a Site Value Tax is best. Here is an excerpt…
What metric would you use to calculate the property tax – land value, property value, or another method?
Theoretically a site value tax is preferable as it does not punish homeowners for improving their property. For example in the case of a market value based tax a homeowner would end up paying more if they make their home energy efficient.
A site value tax would be levied on speculators who hoard land and in so doing broaden the potential base. The Government’s property tax as currently envisaged would appear to exempt up to 700,000 zoned sites which would be included under a site tax.
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