Labour Councillor Pio Smith is urging his colleagues on Louth County Council to consider raising the Local Property Tax. He says the money raised would allow the Council to spend up to €20million on projects in Drogheda.

“We face many challenges in Drogheda however we have the power to address many of those challenges by increasing the property tax by a minuscule amount” Cllr. Smith said.

“I fully understand that we all hate taxes, but the money paid by Drogheda households would be spent in Drogheda and this money would have a massive positive impact on our town.

“The alternative is to wait for some future government to invest in the town and hopefully this will happen, but I won't hold my breath!"

“We have the potential to raise millions for spending in Drogheda through an increase in the local property tax. If councillors agreed to an increase, then this is what it would cost households:

1. 48% of households would pay an extra 26 cents per week
2. 24% of households would pay an extra 65 cents per week
3. 18% of households would pay an extra 91 cents per week
4. 6% of households would pay an extra €1.17 euro per week (packet of fruit pastilles)
5. 4% of householders would pay an extra €1.43 euro per week (price of a Mars Bar)

The following are potential investment categories:

• Capital fund to address dereliction 
• Bring 30 vacant council houses back into use.
• Creation of Drogheda Tourist/Festivals Fund
• Creation of match funding for URDF, eg to create a new public space overlooking the river at the back of the Abbey Shopping Centre.
• Fund new public sports facilities for Drogheda
• Fund for traffic calming measures 

LPT is a self-assessed tax charged on the market value of residential properties. You are liable for LPT if you are the owner, or joint owner, of a residential property even if you do not usually live in the property.

If your home is valued up to €200,000 the annual LPT charge in County Louth is €90, for homes valued at between €200,000 and €262,500 the tax payable rises to €225 per annum rising to €2,721 per annum if your house is worth €1,750,000.

You are not liable for LPT if you are a rent-paying tenant and your lease is for less than 20 years or if you are renting a property from your local authority.