The property tax will work on the basis of several 'bands'. Your house falls within the €350,000- €400,000 band.
The tax will be calculated by taking the mid point of this band, €375,000 and multiplying by .18%.
In your case this will work out at €675 a year. Rememeber in 2013 you will only have to pay half of this amount.
Because this amount is set for 3 and a half years it is important to seek advice when selecting a value. An estate agent should be able to help you with this.
We provide tax and accountancy advice across the country.
Disclaimer: Advice shared in this blog is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this forum, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.