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Finance (Local Property Tax) (Amendment) Act 2021
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Amendment of section 17 of Principal Act

24. The Principal Act is amended by the substitution of the following section for section 17:

“17. (1) In this section, a reference to the number of the band into which a relevant residential property falls is a reference to the number specified in column (1) of the Table to this section opposite the valuation band specified in column (2) of that Table into which the chargeable value (rounded down to the nearest euro) of the property falls.

(2) Where a relevant residential property falls into band 1, the amount of the local property tax to be charged in respect of the chargeable value of that property shall be €90.

(3) Where a relevant residential property falls into band 2, the amount of the local property tax to be charged in respect of the chargeable value of that property shall be €225.

(4) Where a relevant residential property falls into any of the bands 3 to 11, the amount of the local property tax to be charged in respect of the chargeable value of that property shall be the amount represented by A in the formula—

A=B*C

where

B is the mid-point, specified in column (3) of the Table to this section opposite the valuation band specified in column (2) of that Table into which the chargeable value (rounded down to the nearest euro) of the property falls, and

C is 0.001029.

(5) Where a relevant residential property falls into any of the bands 12 to 19, the amount of the local property tax to be charged in respect of the chargeable value of that property shall be the amount represented by A in the formula—

A=(B*C)+[(D-B)*E]

where

B is €1,050,000,

C is 0.001029,

D is the mid-point, specified in column (3) of the Table to this section opposite the valuation band specified in column (2) of that Table into which the chargeable value (rounded down to the nearest euro) of the property falls, and

E is 0.0025.

(6) Where the chargeable value of a relevant residential property exceeds €1,750,000, the amount of the local property tax to be charged in respect of the chargeable value of that property shall be the amount represented by A in the formula—

A=(B*C)+[(D-B)*E]+(F*G)

where

B is €1,050,000,

C is 0.001029,

D is €1,750,000,

E is 0.0025,

F is that part of the chargeable value of the property that exceeds €1,750,000, and

G is 0.003.

(7) The amounts specified in columns (2) and (3) of the Table to this section are amounts in euro.

(8) Where—

(a) a local authority, or

(b) an approved housing body,

is a liable person in relation to a relevant residential property, the property shall be deemed to fall into band 1.

TABLE

Band number

(1)

Valuation band

(2)

Mid-point of valuation band

(3)

1

1-200,000

-

2

200,001-262,500

-

3

262,501-350,000

306,250

4

350,001-437,500

393,750

5

437,501-525,000

481,250

6

525,001-612,500

568,750

7

612,501-700,000

656,250

8

700,001-787,500

743,750

9

787,501-875,000

831,250

10

875,001-962,500

918,750

11

962,501-1,050,000

1,006,250

12

1,050,001-1,137,500

1,093,750

13

1,137,501-1,225,000

1,181,250

14

1,225,001-1,312,500

1,268,750

15

1,312,501-1,400,000

1,356,250

16

1,400,001-1,487,500

1,443,750

17

1,487,501-1,575,000

1,531,250

18

1,575,001-1,662,500

1,618,750

19

1,662,501-1,750,000

1,706,250

”.