Property tax will not be set by new price register

THE EAGERLY anticipated property price register will not be used as a valuation tool for the forthcoming property tax, the Department of Justice has said.

The register, which is due to go online at the end of this month, has been long-awaited as the first transparent measure of house prices in the Republic.

A statement from the department ruled out the possibility that the register will be used to estimate the value of homes after the Government confirmed last week it will introduce a value-based property tax.

“It should be emphasised that this is not a property price index and will not form the basis for the valuation of any property tax,” it stated.

A department spokesman said that the basis on which valuations will be made will be a matter for the Revenue Commissioners.

Ronan McGreevy – Irish Times