Why?1>If properly constituted? I think this is enough said here.
The state takes a cut of what the market will stand. If the tax wasn’t there then the price will be higher.For those with existing mortgages it's an extra cost and for those with new mortgages it's an extra cost. I don't follow your logic.
That’s a different issue and I take your point.Also, it's an extra cost for homeowners who don't have a mortgage. This will exceed the life of your mortgage, so this point doesn't make much sense.
If someone has 10’s of millions of debt they’ve no business owning a house worth €8 million.3> "If a person has an income of €20’000 a month and a home worth €2’000’000 then they are rich." This is a pretty naive statement. What if they have a mortgage of €8,000,000? Or have multiple debts to the value of 10's of millions. Are they still rich?
It happens anyway but it takes longer.4> If it is socially desirable, then what's stopping it from happening naturally? Why charge people for the privilege?
This tax has nothing to do with stimulating spending. The €20 billion we borrow each year to pay welfare and state employees does that.5> A property tax to control inflation? This can surely only work to curb inflation, how can applying this tax stimulate spending? I don't think this is a feasible reason for introducing property tax.
I paid far more than that. If I hadn't paid it in stamp duty then my house would have cost more and I would have paid it to the seller. The price is set by the funds available to prospective purchasers. If the state takes some and the seller takes the rest there's no net loss to the buyer.My issue is a lot of people paid huge stamp duty, I think I paid about 19k for a site at the peak of the boom i did this on the understanding there was no property tax so felt it was valid, on top of this I paid 4k local development tax to the council to be allowed to build. (I put in water, sewage, electric and road) I loaned money to pay for this which i will be paying back over the next 34 years.
this seems like double taxation.
I would hope they would work it along the lines of you owe for example €xxx per year but i get a credit of say 21k on the property, then I have to pick up paying the tax once this runs out, or get a 50% discount off the tax for 50 years.
I also believe it should be a tax on the person living there not on the owners or it will hold back the property market.
If someone has 10’s of millions of debt they’ve no business owning a house worth €8 million.
Taxes aren't optional and don't take individual affordability into consideration. There will undoubtedly be tax rises and social welfare cuts in the December budget (well more than €100 per annum per person) but there is no scope to stick your hand up and say 'I'm afraid this is not affordable for me so I think I'll opt out'. The government is spending more than it takes in so it either has to raise more income (taxes) or cut spending - if people can't afford to pay more taxes as you say, spending will have to be drastically cut.Hi Purple
Does it not occur to you that the reason most people are against the tax is because they do not have the money to pay for it .
With all the extra taxes most working people have very little left after paying bills
dont even get me started on what it cost to send a child back to school and to drive to work.
This should have being brought in 10 years ago not when the country is broke and no one can afford to pay it . Do you know a lot of families are on the brink and this charge will tip them over
Taxes aren't optional and don't take individual affordability into consideration. There will undoubtedly be tax rises and social welfare cuts in the December budget (well more than €100 per annum per person) but there is no scope to stick your hand up and say 'I'm afraid this is not affordable for me so I think I'll opt out'. The government is spending more than it takes in so it either has to raise more income (taxes) or cut spending - if people can't afford to pay more taxes as you say, spending will have to be drastically cut.
Yes, but reductions in tax credits, increases in income tax, increases in other direct taxes etc have the same effect. The alternative is reductions in services or (the most sensible option) reductions in pay for state employees with the corresponding reductions in pensions for former state employees.Hi Purple
Does it not occur to you that the reason most people are against the tax is because they do not have the money to pay for it .
That’s a different issue.With all the extra taxes most working people have very little left after paying bills
dont even get me started on what it cost to send a child back to school and to drive to work.
I agree but better late than never.This should have being brought in 10 years ago not when the country is broke and no one can afford to pay it .
Yes but what’s the alternative? We already have the highest rate of marginal income tax in Europe and just about the highest VAT rate.Do you know a lot of families are on the brink and this charge will tip them over
I agree on the valuations issue, that’s why a site value is better and fairer.also who is going to be doing the valuations on all these houses considering 1 million have registered and the tax is coming on stream in Jan 13 they must have a little army of valuers on standby to get it done by that date .
It has to be done by individual houses because each house on a estate would have a different value if the money is going to the local authority then everyone should pay including council house owners i am sure the majority of them have some form of employment .
I agree.It should have being called a rates charge then everyone would have to pay not just the homeowner .
If they take a property tax out of my wages I will find it hard to cover my mortgage!
If I live too close to the limit of my means then it is my fault.Hi purple
So because you worked hard and saved every penny you had to buy your house and did not go cap in hand to the council looking for them to house you its your fault.
If I live too close to the limit of my means then it is my fault.
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