Legislation that paves the way for a Local Property Tax has been passed by the Dáil and Seanad.

The final vote on the tax was approved by the Seanad by a margin of 33 votes to 16.

Finance Minister Michael Noonan said this Bill had to be enacted quickly to give the Revenue time to establish mechanisms to collect the tax.

He added that any small changes to the legislation can be made in the Finance Bill early next year.