This post reviews the findings in the latest Daft.ie House Price Report, for Q2 2010, finding news for both optimists and pessimists in average prices and the level of transactions. The report’s commentary is by Jim Power, who discusses the need for a property tax. The remainder of the post reviews the arguments in favour of a property tax in Ireland and recommends the introduction of a land value tax.
S&P has downgraded Ireland’s debt rating – again – while latest Government figures show that Ireland faces a €12bn hole in its tax revenues this year, compared to 2007. This post outlines where the hole has come from and how it can be tackled. This will require an open debate, though, which will involve sacred cows such as Ireland’s corporate tax rate and a property tax.
Ireland's €12bn tax hole in 2009, by taxation type
