Council to keep LPT at current level

Cavan County Council elected representatives approved a proposal to retain the Local Property Tax at its current level following a recommendation by the Executive on the Rates Adjustment for 2022. The members reached the decision following a presentation by acting Head of Finance, Margaret McNally, at the July plenary meeting of the authority.

The revenue raised by Local Property Tax (LPT) is used to fund services provided by LAs such as: public parks, libraries, open spaces and leisure amenities, planning and development, fire and emergency services, maintenance and cleaning of streets, and street lighting.

Funds from the LPT are matched with funds from central government to finance. Cavan County Council estimate they will collect €4,549,565 directly from the tax. The local authority return 20% to an equalisation fund and when this is redistributed it brings the council property tax take to €9,480,501.

Last year Cavan homeowners saw LPT increased by 15%. Members made the unanimous decision for the increase following a presentation by the council executive, outlining the need to bolster funds in response to a pandemic related shortfall.