Property tax in Cavan and Monaghan could rise to over €400 if the system remains unchanged. Current valuation levels are due to expire this year, with average cost of a home increasing since the tax was introduced in 2013. 5 years ago the average cost of a house was around 150 thousand euro, which incurred a bill of 225 euro.
The Irish Independent reports that the national average cost of a home is now 256 thousand euro, which would carry a bill of 495 euro. Monaghan town would see the biggest increase locally, with LPT possibly costing €405 in the future. Carrickmacross, Clones and Cavan town could see increases to between €225 and €315.
However, given current average valuations, Castleblayney and Belturbet would see a reduction to just €90. The Government has promised there will be changes to the system, and any increases in tax paid will be modest.