Category Archives: property tax

Buy in haste and repent at leisure…

This article originally appeared in the Sunday Business Post’s new property supplement on the 5th of October 2014. A vibrant economy must house all people, not just those who aspire to holding a deed in their hand. In late 2013, I was tasked with bidding on a few derelict properties; one had an enforcement order […]

RTE Morning Edition

TV3 The Morning Show – Property Tax

TV3 The Morning Show, this week we looked at property tax with Alan and Aisling, we focused on the need for a Site Value Tax rather than opting for a property tax based on the entire market value.

RTE The Frontline: Household charge, 23rd January 2012

As far as a ‘system of taxation’ goes, we think that less income tax is a great idea, that instead site valuations and local costs or spending should be borne by the locality and paid to the local authority. That means that the Household Charge – while regressive – is the right type of tax being levied in the wrong way.

Independent: Struggling investors forced to sell at a loss

Mortgages with a total value of €1.3bn were now in arrears of three months or more. This represents 16pc of its €7.8bn buy-to-let mortgage book — up from 10pc in December. Low rents and difficulties finding tenants mean many buy-to-let investors lost money on their properties, director of Irish Mortgage Brokers Karl Deeter said.

Fred Harrison: The Bridge, how infrastructure is a wealth transfer

Fred Harrison talks about the way in which infrastructure spending can result in a wealth transfer which largely goes uncollected, compelling viewing.

The Sunday Business PostT: The taxing issue for property owners

Karl Deeter, operations director with Irish Mortgage Brokers in Dublin said he was in favour of a property tax if it was implemented correctly and if less income tax was paid by taxpayers. ‘‘People would be more willing to spend more if income tax was reduced. It would prove to be productive.”

‘‘The second homes tax is an example of revenue raising, the only justification is that it is a tax on owning an asset. Literally I could own a castle or a cottage and I’d have to pay a flat tax it’s stupidity. The introduction of a property tax would have to mean scrapping the second homes tax,” he said. ‘‘Otherwise it doesn’t make sense, and the property tax should be offset against investors’ tax bills. The property tax should be allowable as an expense for investors.”

Sunday Times: Buy to fret

We were pleased to get a mention in the Sunday Times article by Kathy Foley called ‘buy to fret’. You can find her on Twitter too! We don’t often find such a candid quote as the last part of the mention we got! “The banks are all saying investors have to be first to give up the ghost,” said Karl Deeter, of Irish Mortgage Brokers. “They will lean heavily on them and get a judgment because they didn’t do what the bigger people do and isolate the loan, buying the property through a limited company. “Nobody feels any sympathy for them.