Cork: What the property tax could mean for your pocket

on 18/09/2012 00:00:00

Based on an analysis of daft.ie listings for the average asking price of house in Q2 2012, we have looked at the potential costs for homeowners across Munster and in the second of a four-part report we calculate what the tax will mean for homeowners in the main areas of Cork.

We will continue the series tomorrow with a look at potential costs in Limerick and conclude our investigation on Thursday with Kerry and Waterford.

Our probe into the potential cost of the new tax comes just days after it was speculated that homeowners will have to value their own house when the tax is introduced next July and that revenue would conduct random checks to make sure people are not undervaluing their home.

Commenting on the issue last week Minister Bruton said all options are being considered.

Mr Bruton said: "No decisions have been taken - obviously Michael Noonan has indicated that a property tax won't be in affect until the middle of next year.

"Some of the rumours of the scale of which it would be set at are unfounded, as he has indicated".

"The government has yet to make decisions about the base of the tax or the way in which it will be collected".

"Those are matters that will be decided over the coming months and announced in December, well ahead of any payment times," he added.

Day 1: Tipperary and Clare