No change to LPT in Co Louth next year

There will be no change to the rate of the Local Property Tax (LPT) in Co Louth next year.

At a special meeting of Louth County Council this evening, all 23 councillors present voted to leave the rate of the tax unchanged.

Since the introduction of the LPT more than a decade ago, councillors have the ability to increase or decrease the base rate of the tax by 15% each year.

Fianna Fáil councillor Andrea McKevitt this evening put forward a proposal to keep the base rate of the tax in Co Louth the same for next year and it was seconded by Independent councillor Kevin Callan.

All 23 councillors present then voted to leave the base rate unchanged. There were six councillors who were absent.

The councillors had previously been told that a 1% increase in the tax would represent an additional €115,251 for the local authority, while the maximum increase of 15% would be worth over €1.72 million.

It comes as three of the four local authorities in Dublin recently voted to increase their property taxes, with just Dún Laoghaire-Rathdown County Council maintaining the full 15% discount.

While there are some exemptions, most residential property owners, including rental property owners, are liable for the LPT.

The tax paid is based on the market value of the property on the valuation date, which is currently is 1 November 2021.

However, this November, a nationwide revaluation of residential properties will also lead to higher LPT payments for most.