Members of Limerick City and County Council have voted down a Sinn Féin motion to reduce the Local Property Tax by 15%.
They have instead agreed to reduce the LPT by 3% for 2015.
The motion was supported by 27 votes to 11 at a meeting of the councils this afternoon.
Council Chief Executive Conn Murray had warned councillors that a drop of 15% in the tax would lead to an increase in other costs and services, such as commercial rates.
Clare County Council voted last week to reduce its property tax for 2015 by 15%.