PEOPLE in Cork city are being encouraged to have their say on how a potential change to the basic rate of Local Property Tax (LPT) may affect them, ahead of a meeting next month where city councillors will decide whether to adjust the rate.

The Finance (Local Property Tax) Act 2012 (as amended), makes specific provision that elected members of a local authority may pass a formal resolution to vary the basic rate of the Local Property Tax for their administrative area by a percentage known as the Local Adjustment Factor (LAF).

Councillors first vote on whether the rate should be adjusted and if it is agreed to adjust it, a number of proposals are typically forward.

Councillors can decide to change the rate upwards or downwards by 15 per cent.

While such a resolution may be made annually, the adjustments are not cumulative from year to year.

“Cork City Council will meet in September 2022 to consider the setting of a Local Adjustment Factor.

“Cork City Council welcomes written submissions from the public on this matter specifically covering the potential effects of varying the basic rate of the Local Property Tax on businesses, individuals and on local authority services,” the council said.

Speaking to The Echo, Fianna Fáil councillor Tony Fitzgerald encouraged people to have their say.

“The Local Property Tax has given the local reps in the Local Area Committees the opportunity to do a lot of local work like road resurfacing, footpath works and various different projects.

“I would be encouraging people to make their submission and have their say,” he said.

Mr Fitzgerald said the party would be meeting to discuss what it would be proposing.

The decision to be made in relation to the LAF has potentially significant outcomes in terms of the funds available to Cork City Council for its budget.

Sinn Féin councillor Mick Nugent said the party would be attending pre-budget meetings in the coming weeks to get a “sense of where the city council’s finances are at” and would be deciding on what it would be proposing regarding the LAF after that.

“If we feel that reducing the property tax would significantly add to the financial issues council may have, we’ll be inclined to stick with not changing the rate.

“We certainly wouldn’t be in favour of putting it up.

“Some parties advocate for putting up the Local Property Tax to raise money for the local authority but we don’t agree with that approach.

“Reducing it might significantly affect the council as it tries to put together a budget for next year so in previous years, we had proposed no change to the rate,” he said.

Independent councillor Ken O’Flynn said he would also disagree with any increase to the LPT saying it would be “detrimental” to businesses and homeowners given the rising cost of living.

Submissions must be received by Tuesday, August 30 and can be sent to:

Finance Department, Cork City Council, LPT Submissions, City Hall, Cork.

Alternatively, they can be made online via www.corkcity.ie/lptsurvey