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05/09/2014
Wealthier Local Areas To Top-Up Lower Tax Bases
80% of of Local Property Tax is to be kept by councils to fund public services, with 20% being re-distributed to top up funding to those areas with lower tax bases, under new rules announced by the Department of the Environment for 2015.
The government has said that no local authority will receive less income from LPT in 2015 than they received from the Local Government Fund in 2014.
The rules state that local authorities that stand to receive more income in 2015 from LPT than they received from the Local Government Fund in 2014 will be entitled to use a certain portion of the funding for their own purposes.
Local authority elected members have been given the power to decide whether or not to increase or decrease LPT rates by up to 15% for 2015.
Environment and Local Government Minister Alan Kelly said: "These measures will provide certainty and balance to the finances of local Government and give Councillors a greater say in how their authorities are funded, ensuring 80% of LPT is spent locally. All local authorities will be funded to their 2014 levels.
"The Government has today provided certainty in relation to top-ups for those local authorities with lower property tax bases. Nineteen local authorities will benefit from top-ups from the equalisation fund. These measures are necessary to create a balanced system of funding across local authorities."
(IT/JP)
The government has said that no local authority will receive less income from LPT in 2015 than they received from the Local Government Fund in 2014.
The rules state that local authorities that stand to receive more income in 2015 from LPT than they received from the Local Government Fund in 2014 will be entitled to use a certain portion of the funding for their own purposes.
Local authority elected members have been given the power to decide whether or not to increase or decrease LPT rates by up to 15% for 2015.
Environment and Local Government Minister Alan Kelly said: "These measures will provide certainty and balance to the finances of local Government and give Councillors a greater say in how their authorities are funded, ensuring 80% of LPT is spent locally. All local authorities will be funded to their 2014 levels.
"The Government has today provided certainty in relation to top-ups for those local authorities with lower property tax bases. Nineteen local authorities will benefit from top-ups from the equalisation fund. These measures are necessary to create a balanced system of funding across local authorities."
(IT/JP)
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