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Well, the property tax that I pay on the house that I own in Dublin is decidedly not "a rounding error away from zero". It has also recently increased, in line
by Supernaut 1y ago
Well, the property tax that I pay on the house that I own in Dublin is decidedly not "a rounding error away from zero". It has also recently increased, in line with the increased value of properties in the locality.
Regarding your second assertion, the construction of local amenities is in fact often paid for by the property tax. And in any case, what has actually driven the strong increase in the prices of houses nationwide is their relative scarcity now that the population has swelled so dramatically.
- CalRobert 1y agoA €700,000 home has annual LPT around €618, depending on the council. https://www.revenue.ie/en/property/local-property-tax/valuing-your-property/valuation-bands-rates.aspx https://www.revenue.ie/en/property/local-property-tax/valuin... To me, a tax of under 0.1% is pretty close to 0. If only ETF's enjoyed the same treatment, it might be easier to save up for a deposit! We agree that scarcity is what makes houses more expensive. Edit: I can't reply to below but ETF's suffer from deemed disposal, where even unrealized gains are taxed at 41% after holding them for 8 years. https://irishfinancial.ie/how-you-calculate-deemed-disposal/ https://irishfinancial.ie/how-you-calculate-deemed-disposal/
- sokoloff 1y ago> If only ETF's enjoyed the same treatment Isn't the annual property/wealth tax on an ETF €0?
- CalRobert 1y ago(For some reason I thought I couldn't reply) ETF's suffer from deemed disposal, where even unrealized gains are taxed at 41% after holding them for 8 years. https://irishfinancial.ie/how-you-calculate-deemed-disposal/ https://irishfinancial.ie/how-you-calculate-deemed-disposal/ Weirdly, individual stocks are not affected by this, which encourages riskier behaviour on the part of investors. I really don't understand it.