At least a third (36%) of Irish homeowners will see their local property tax go up from next year, and every home in the country liable for the tax will be revalued.

In addition, 100,000 more homeowners face paying the tax liability from next year after the Government decided to end exemptions on homes built since 2013.

The reduced rate, compared to the 2013 formula, will mean that a majority (53%) of homes will either pay the same rate of tax, or see a reduction (11%), while a third of homeowners will see their property tax bill rise by up to €100. A further 3% will climb by over €100.

The changes will see valuation bands increased by 75% to account for a rise in house prices since 2013.

The valuation band changes can be seen below:

For example, a homeowner paying €405 on a home valued in 2013 at €200,000-€250,000 will pay the same if their home is valued between €350,000-€437,500 on November 1.

If it is valued higher, they will enter the next band at €495 per annum.

The money payable under the charge will be reviewed every four years.