Property Tax Proposal Public Needs Clarity- Crowe
Responding to the Government’s proposed value based property tax Dublin South West TD Seán Crowe said that the Tax didnt appear to take account of the owners ability to pay and that a fairer and better way forward to deal with the financial shortfall was to introduce a wealth tax.
Deputy Seán Crowe said:
“Government Ministers and spokespersons are saying no decision has been made in relation to a new property tax but we know that they have indicated to the Troika that is coming down the track.
“They are saying to the Troika one thing and telling the public something else in relation this new tax. Clarity is urgently needed particularly for those hundreds of thousands of tax payers that this new tax will negatively impact on.
“The value based property tax does not appear to take account of personal circumstances such as ability to pay or variations in value based on location.There is currently huge variations in the price of property between rural and city locations with huge sums involved, depending on the area.
“The Government also has not mentioned any linking of their proposed new tax with the ability to pay, or the taxes like stamp duty already paid by housebuyers when they bought a property.
“Poverty Groups have rightly highlighted the difficulty many families are already experiencing. This added burden will drive more and more people into poverty and deeper debt.
“Sinn Féin believes a wealth tax would be a more equitable proposal linking the ability to pay with a percentage tax on all property, physical, material and financial and over €1 million. Our wealth tax proposal also allows for 20% write-off of the value of the principal residence. It is our estimatation that this Tax alone could bring in approxmately €800 million in a full year.
“I am calling on the Government to abandon its plans for a property tax and seek a re-negotiation with the Troika on this in the Memorandum of Understanding.
“In addition to this the Government must reverse the household charge, which is a flat tax that is being levied at households in anticipation of the introduction of this property tax and water charges.”