Trade Unions “dismayed” at Councillors' decision not to reduce Local Property Tax
The rate of property tax will not change in Waterford this year but WCTU argues that the value of houses has been inflated, increasing property tax paid by many.
Waterford councillors have decided not increase Local Property Tax for this year. This is a change from previous years’ increases.
However, Waterford Council of Trade Unions is disappointed that Councillors did not vote to reduce the tax.
Councillors can vote to request that Waterford City and County Council implement the maximum allowable decrease of 15% of the tax.
Waterford Council of Trade Unions said: “ The rapid and continuous rise in house prices, driven by an artificial shortage created over many years, has increased the amount of property tax due from each household, something for which homeowners are not responsible.
"The Local Property Tax, is a tax on the family home and is fundamentally unfair. It is not a Wealth tax, as some like to claim.
"As the price of essential items and services continue to increase, our Councillors had the opportunity to decrease this miserable tax by the 15% maximum allowable. This was a lost opportunity to reduce the LPT to the maximum 15% allowable, that could have eased the burden on working families, however small.”
Local authorities have the remit to increase local property tax by a maximum of 25%, they can also reduce the tax by 15%.
This year, the councillors have opted to keep the local property tax at its current rate.
Annually, Waterford City and County Council invites written submissions from the public on this issue, specifically focusing on how changing the basic rate of the Local Property Tax might impact businesses, individuals, and local council services.
