Cork City Council votes to increase Local Adjustment Factor of the Local Property Tax



On 26 July Cork City Council voted to increase the Local Adjustment Factor (LAF) of Local Property Tax in Cork City by 9% (with 19 votes).

Under Section 20 of the Finance (Local Property Tax) Act 2012, a Local Authority may vote to vary the basic rate of the Local Property Tax by a maximum of plus or minus 15% of the basic rate.

The elected members of Cork City Council have previously voted for a 0% LAF for the years 2017, 2018 and 2019. This generated additional income of €777,000 per annum in the budget which equates to €2.331m over those three years. For the 2021 budget, the elected members increased the LAF to 7.5% which generated an additional €1.58m.