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By Chamber Press Office, 08 August 2019
Dublin Chamber is calling for councillors in Dublin City to reconsider the downward variation of 15% on the Local Property Tax (LPT) in order to generate additional income to pay for the much-needed - and long-delayed - expansion of the DublinBikes service.
For the past five years Dublin City councillors have voted to implement a 15% reduction in the Local Property Tax rate. This has reduced the amount of money that is available to spend in the city.
Dublin Chamber is calling on councillors to re-think this reduction and to consider limiting the LPT reduction to 10%, which would generate an additional €4m in revenue per annum.
Dublin Chamber said this income would allow for the development of 43 new stations across the city and the provision of an additional 290 bikes in 2020.
According to Dublin Chamber CEO Mary Rose Burke: "If the LPT was reduced by just 10%, this would result in only a slight increase to householders' bills. If the property was valued between €250k and €300k the bill would increase by €24.50 per year, which is virtually the same price as a DublinBikes subscription. We are calling for the Council to commit to a significant expansion of the DublinBikes scheme for the next five years, payed for by the LPT revenue increase."
Analysis carried out by Dublin Chamber, based on the cost of the most recent DublinBikes development in Grangegorman, has identified that an additional €20m in revenue would be generated over the 5 year period, which would provide 214 new stations and an additional 1,430 bikes, effectively tripling the number of stations around the city from 116 currently to 330.
Ms Burke said: "DublinBikes is one of the most successful bike sharing schemes in the world. Given its huge success, it is disappointing that its continued expansion has been so slow. There are still far too many areas within an easily cyclable distance of the city centre where there is no access to DublinBikes. This is a deterrent to getting more people cycling in Dublin. A complaint we hear regularly from businesses and residents in Dublin is that they do not know where their property taxes and commercial rates are spent. Ring-fencing LPT money for DublinBikes would provide the people of Dublin with a tangible way of seeing where their money is being spent - and in a way that will greatly benefit their lives.
"It makes sense that the future expansion of DublinBikes should be concentrated in high density residential areas. This could include areas on the southside such as the Coombe, Dolphin’s Barn, South Circular Road, Harold’s Cross, Rathmines, and Drimnagh. On the northside, Cabra, Stoneybatter, Navan Road, Fairview, Phibsborough and Drumcondra would benefit hugely from having DublinBikes stations. DublinBikes offers a world class and low cost means of sustainable public transport in a city that is struggling significantly with congestion," added Ms Burke.