Are property taxes in Ireland favoring the rich?
By Paddy Clancy, Irish Voice Reporter
Bono and Ryanair boss Michael O'Leary could save thousands in a controversial tax based on how their homes have been valued on the Revenue Commissioners' new website.
Eyebrows have been raised by the new property tax, with homeowners expected to accurately assess what to pay the government based on the value of their houses.
The tax is assessed based on the value of a home. It is €90 if the property is worth under €100,000. The amount payable increases with every extra €50,000 the home is valued at. If it is worth more than €1 million the tax is €1,800 and for every extra €1 million the tax goes up another €2,500.