Latest estimates are putting the average property tax facing householders at around 315 euro.
According to the Irish Independent, the payment will range between 200 and 400 euro for most people, depending on the value of their property.
Michael Noonan will be finalising details of the property tax in the coming days, but according to the Irish Independent, much of the system has now been signed off by the cabinet.
As expected, it will rely on the assessment of the individual home-owner who will fit their property into bands divided into 50 thousand euro amounts.
The actual rate of tax hasn’t been finalised – according to the paper it could be either point-two, or point-two-five per cent.
Applying those rates to the current national average house price of just under 157 and a half thousand euro, would leave householders facing an annual charge of around 315 euro.
However it was revealed in recent months that we’ll only have to pay half the yearly amount next year, so the full tax won’t kick in until 2014.
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