Nov 15, 2012 Comments Off
This residential property tax will be collected on every home in Ireland. The rate you will pay, under this system, depends on the full value of your property including the building. The square footage, the number of bedrooms in your home, energy rating, are some examples of the features that assessors will use [...]
Oct 23, 2012 Comments Off
The Environmental Pillar has added its weight to the growing push for a Site Value Tax in Ireland. Today (18 October) it released a policy on Site Value Tax, outlining the social, economic and environmental benefits that would be delivered by its implementation.
Oct 15, 2012 Comments Off
Smart Taxes hosted a very lively and well attended event in Trinity College, Dublin, on Monday evening 24th September. Three ex city Mayors, one an ex Lord Mayor, announced their presence. As expected and desired, the panel were challenged with many hard and interesting questions. John Bowman showed his experience and skill in keeping the discussion on topic and well tempered. Politicians from all parties (especially the Labour Party it has to be noted) showed admirable interest in debating the property tax in Ireland, as with the launch of the Fair Tax book, but very few media columnists attended.
Oct 15, 2012 Comments Off
Report by Fred Harrison: “Ireland’s lower corporate tax rate is a two-edged sword: it attracted foreign capital, but the net gains were either (i) capitalised into disruptively higher land values, which helped to fuel the property boom/bust, or (ii) were repatriated. Hong Kong’s much lower income tax heightened incentives to work, save and invest. Hong Kong is recognised as the most competitive economy in the world. We only need to compare the skyline of Hong Kong with Dublin to appreciate that something remarkably different was, and is, driving the Asian Tiger’s economic engine.”
Oct 15, 2012 Comments Off
Call for professional site valuations for property tax – The Irish Times … SUZANNE LYNCH A PROFESSIONAL property assessor should be used to undertake site valuations when the property tax is introduced, an economics conference heard yesterday. Speaking at the Dublin Economics Workshop in Galway, economist Ronan Lyons said a State-wide checklist should be introduced [...]
Sep 25, 2012 Comments Off
Image: tlindenbaum via Flickr Aaron McKenna picked up our arguments for a Site Value Tax over a property tax in his article in The Journal. See extract below Efficient use A better property tax (or at least a less bad one) would be a site value based tax, such as that economist Ronan Lyons [...]
Sep 21, 2012 Comments Off
Smart Taxes does not agree with all of what Dermot has to say about a property tax below here – but that is not the point. The point is that we need this debate before any decision is made, hence we make space here for his opinion as a former Mayor of Dublin City. Don’t [...]
Sep 19, 2012 Comments Off
“The Fair Tax” was launched by Smart Taxes in Buswells hotel yesterday. Fr Sean Healy introduced the book with a call for general tax reform. He pointed out that Social Justice Ireland has always been a supporter of land value tax. A proposal for a land value tax to fund a citizens income has been floated in a recent European conference held on social justice issues, with which he heartily agrees. He commended the book using the words of economist Colm McCarthy in the preface.
Sep 13, 2012 Comments Off
Will the 99% of Irish people be bounced into a second bailout of the elite 1% that includes the bankers, speculators and property developers? Could it be happening again under the cloak of secrecy the new Coalition has built around their new property tax? This book “The Fair Tax” compiled by the Smart Taxes network and edited by Emer Ó Siochrú is a wake up call that must not be ignored by the Irish people…
Sep 07, 2012 Comments Off
Relaxing planning restrictions would lead to a rebalancing of land designations towards their most profitable use, namely residential housing and business. This would lead to a fall in house and business property prices as supply increased, and windfall gains to land owners. A concurrent LVT would capture some of those gains. As the tax base is observable and fixed, neither avoidance nor evasion is possible, making collection cheaper. Substituted for other distortionary and inequitable taxes such as council tax and business rates, LVT could also increase efficiency. Paired with an overhaul of the antiquated system of land-use planning, it would boost growth and ease budgetary woes.
Jul 24, 2012 Comments Off
This is an intriguing and very innovative concept developed in New Zealand by Deirdre Kent. The paper is very long so I will post only excerpts, the summary and autobiographic details. It links a land value tax with a new local government issued money and with a new medium of land ownership that recalls Chris Cook’s Limited Liability partnership model. [...]
Jul 08, 2012 Comments Off
Wessex Regionalists say …..Talk of plugging loopholes suggests that the tax system requires nothing more than a little fine-tuning. In fact, it could do with a major overhaul. A Land Value Tax to deter speculation and prevent derelict land lying idle, for the first time integrating planning policy, land ownership policy and revenue-raising across the board. [..]
Jun 28, 2012 Comments Off
The proposal is for the ECB to create and then distribute trillions of euros annually to the national governments on a per capita basis. The per capita criterion means that it is neither a targeted bailout nor a reward for bad behavior. In fact, as the largest economy, Germany would get the largest distribution of euros from the ECB. This distribution would immediately adjust national government debt ratios downward, which eases credit fears without triggering additional national government spending. [...]