December 10, 2019
Business News

15% increase in local property tax helps Kilkenny Council balance 2020 budget

The 15% local property tax hike was pivotal to Kilkenny County Council being able to sign off on its budget for the coming year.

Kilkenny councillors have agreed to approve a budget of €83.5 million for 2020, a 5% increase on 2019.

On top of the local property tax hike approved by local councillors in September,  extra money from the Government’s property equalisation fund was needed to balance the books.

The local property tax increase will boost Kilkenny County Council’s coffers by €1,125,000 next year, while the Government granted Kilkenny Council €3.42 million from the equalisation fund from local property tax, despite only paying €1.5 million into the pot this year.

This year’s budget will come to a total of €83.56 million, up €3.86 million on 2019’s budget of €79.7 million. This increase is covered by the €3.1 million from the  LPT and the equalisation fund, along with other expected incomings over the year.

The budget covers the council’s outlay on development, roads, housing, parks, and amenities, as well as providing for Kilkenny’s many arts groups, festivals and tourist events.

Councillors voted overwhelmingly to accept the proposed budget.

 

 

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