Latest news with #CroiConaithe
Irish Independent
3 days ago
- Business
- Irish Independent
Mayo councillors vote to keep the current base rate for local property tax despite calls for a reduction
The decision came despite a recommendation from the council's Director of Finance to increase the base rate to 15pc which would generate an extra €1.52m in LPT income for the council and would go towards services such hedge cutting, verge trimming and capital projects around the county.. LPT in Mayo is estimated to bring in €10.13m in 2026. The Exchequer will then allocate €11.88m as part of the Equalisation fund. This gives Mayo County Council a baseline fund of €22.01m for the year. Fianna Fáil councillor, Damien Ryan, rejected the recommendation and proposed that the base rate remains at 10pc. 'You recommend 15pc but you don't have to go out and sell it the way we have to sell it. I suppose at the end of the day we want to be wise and prudent about how we do things here. We're in extremely uncertain times, the 30pc tariffs coming across the Atlantic are going to have a huge impact on Ireland.' Keeping the base rate at 10pc would raise €1.01m in LPT income. Of this, €200,000 would be ring-fenced for verge trimming, and €400,000 would go towards the match funding contribution for Clár, the Town and Village Renewal Scheme (TVRS) and other similar schemes. Cllr Ryan proposed a provision be made for €100,000 to go toward addressing the backlogs in processing applications for housing grants such as Croi Conaithe. Fine Gael councillor Peter Flynn seconded this proposal. Independent councillor, John O'Malley, rejected any raise in the base rate. He spoke of families facing food and fuel poverty and families in rural areas in the county, 'There are families out there who are finding it hard, especially in rural areas,' he said. 'We pay a property tax in the rural area but we don't get street lights, footpaths, water, or sewerage. We don't get any of that paid for.' 'I can't support any increase in LPT, it's not fair to go asking rural people to pay more.' ADVERTISEMENT Learn more Cllr O'Malley proposed reducing the base rate to 0pc. His motion was seconded by Cllr Michael Kilcoyne, who reminded the council that they also had the power to decrease the rate by 15pc. He reiterated that people in rural areas are being treated unfairly and said: 'you're asking people to pay 25pc more than they should have to.' Councillors Harry Barrett, Patsy O'Brien, Chris Maxwell and Deirdre Lawless all seconded the proposal made by Cllr O'Malley and spoke out for families in rural Ireland. 'I want to see people having a little bit of money left over at the end of the month, not having extra charges tacked on here, there and everywhere,' Cllr Barrett said. 'They say 'every little helps' but it doesn't help in this scenario, every little is actually sending people under.' In response, Cllr Ryan stressed he was not proposing an increase but only arguing that the base rate be maintained. 'This decision is to hold it at the same rate it has been since 2020. We're holding it at the same rate to try and get economic development in each of our regions,' he said. 'For us to become effective going forward, the only way you can function is with sound economics and you have to underpin that with finance.' Cllr Ryan warned that reducing the base rate to 0pc would result in a loss of €2.5 million for the council, while maintaining the current rate would keep it functioning financially. Cllr Ryan recognised that change is needed in relation to local authority funding, he argued that the Department of Finance should restore Block Grants as the current Equalisation Fund only contributes to the urban and rural divide since urban councils have larger base rates. The vote to hold the base rate of LPT at 10pc was passed 17 votes to eight. All 17 who voted in favour are representatives for either Fianna Fáil or Fine Gael. This article has been funded by the Local Democracy Scheme
Irish Independent
09-07-2025
- Business
- Irish Independent
Cairn Homes boss says revised apartment rules will mean lower prices for buyers
units, fewer windows, and less communal space. Michael Stanley, the company's CEO, said that as Ireland's 'most active apartment builder', it welcomed the changes introduced by Housing Minister James Browne and said that the new regulations would reduce building costs. 'These guideline changes will also lower selling prices for future Croí Cónaithe developments and Local Authority Affordable Purchase Schemes,' Mr Stanley insisted. The Government has agreed that about 50,000 apartments in developments that have planning permission, but which are not started, can be completed using the new guidelines. 'We plan to submit revised designs and prioritise projects for our Affordable Housing Body (AHB) customers,' Mr Stanley said. 'When amendments are approved by planning authorities, we will pass on the significant cost savings to our AHB customers, which should in turn reduce affordable rents for new cost-rental apartments.' The Cairn boss said that the new guidelines, which mean that developers no longer have to offer the same mix of unit type and size in apartment blocks, will reduce the selling price for units in the local authority affordable purchase schemes, and in Croi Conaithe, the Government ADVERTISEMENT Learn more initiative to support the building of apartments for sale to private owners. Shares in Cairn Homes rose on Wednesday after it reiterated its full-year guidance and said it continues to see strong demand from first-time buyers. The homebuilder said in a trading update that it generated revenue of €280m in the first six months of the year from the sale of approximately 700 units. That compared to revenue of €366.1m from 894 units in the first half of 2024. The company's trading is traditionally weighted towards the second half of the year. It added that its 'significant investment' in scaled construction activity in the first six months of 2025 will support its performance for the remainder of the year. Cairn said that it had seen strong private sales in the first half of the year. It increased its multi-year closed and forward order book to about 3,700 new homes, with a net sales value of roughly €1.4bn. The company launched eight new schemes across Dublin, Kildare, Meath, Cork and Galway in the period, with strong demand witnessed from it core first-time buyer market. The performance comes amid a backdrop of a continued housing shortage that is set to persist for years to come. 'We have witnessed exceptional demand in the year to date, including in our numerous private sales launches in this spring and early summer sales season,' said chief executive Michael Stanley. 'We were also encouraged to see such strong support for our first Croí Cónaithe development in Cork, from first-time buyers seeking affordable private ownership of apartments,' he added. Mr Stanley noted that this week the government has announced amendments that will permit smaller apartments and relax rules on internal space, dual aspect ratios, ceiling heights and other design elements. As Ireland's most active apartment builder, we welcome this initiative, which will reduce build costs,' said Mr Stanley. 'These guideline changes will also lower selling prices for future Croí Cónaithe developments and Local Authority Affordable Purchase Schemes,' Mr Stanley insisted. Cairn Homes is predicting that it will generate revenue growth of more than 10pc this year and generate an operating profit of around €160m.
