Councillors in South Dublin County Council at their meeting on the 10th of September voted to reduce the Local Property Tax (LPT) by 15%. The changes will be made to bills issued in early 2019. County Councillors, who have the power to adjust the rate by plus or minus 15% each year, voted 27 – 8 at the September Council meeting to make the decision to adjust the rate by the full 15% rate.
The decision to reduce the basic rate of LPT will be funded through the discretionary element of the LPT allocation and will reduce that element of funding from €6,322,286 to €1,580,572. The Council’s LPT allocation for 2019 is €25,289,144 representing 80% of the LPT income of €31,611,431 that it is anticipated will be collected in the South Dublin County administrative area in 2019. The remaining 20% is paid into an equalisation fund to assist other local authorities.