Limerick homeowners will see a drop in their Local Property Tax (LPT) for 2018. It follows a vote by Limerick City and County Council on Thursday, 28 September, where councillors voted 17 to 11 to increase the LPT by 7.5% from its base rate for 2018.
The LPT for 2017 was 10% above the base rate and following the meeting of the full council, it was voted that the increase for 2018 would be 7.5%. Every year the LPT automatically returns to the base rate, with councillors able to alter the LPT by between plus or minus 15% of the baseline rate.
Councillors voted for a 7.5% increase this year, which means homeowners in Limerick will effectively see a reduction in their LPT next year. Officials had been seeking a 10% increase.
As a result of the vote, an additional €1.17 million will be made available for Limerick City and County Council to spend on communities across Limerick.
This will be used to maintain local services while the council will further look to achieve cost efficiencies across the local authority to continue to provide the best service possible to the citizens of Limerick.