A so called “Mansion Tax” is rumoured to be introduced in the Budget on Wednesday.
It will take the form of a higher rate of property tax on homes worth over €1 Million. The higher rate will probably be something like 0.25% compared to 0.2% for everyone else.
For a €2 million home – this would mean an extra €1000 a year (Total tax of €5000 compared to €4000 if the rate was the same for everyone)
It looks like this option is preferred by the coalition to the raising of USC for higher earners.