Leitrim County Council has approved the first increase in the adjustment factor for the Local Property Tax.
Leitrim County Council has agreed to increase the adjustment factor for the Local Property Tax (LPT) in 2020.
This means that homeowners will see an increase in the amount of they pay next year.
The increase will mean that 60% of Leitrim's home owners will pay an additional 26 cents a week; a further 35% of homeowners will pay 65 cents more a week for the LPT.
The increase will enable local authority to generate an additional €320,000 in funds which is seen as a crucial step in securing €276m of investment for the county as part of a six year capital investment programme.
The strategic investment programme will focus on the targeted delivery of projects in areas such as tourism development, regeneration and development of town centres, job creation, community development, environment protection and infrastructure development.
The funding of the proposed investment plan will be sourced through a variety of national funding opportunities through Project Ireland and Chief Executive, Lar Power said that the increase in the LPT adjustment factor was a "critical factor" in securing financial allocations and allowing the local authority to "achieve the full potential" of the county.
Although councillors expressed concerns over applying an increase to the LPT, many acknowledged the need for greater investment in the county.
Assurances were sought by councillors that the money raised through the adjustment variation would be ring-fenced for this capital programme and would not be used to "finance any shortfall in projects already approved."
Others said they were not happy to approve an increase adding that additional funds should be sought from central government instead.
A counter proposal to retain the existing adjustment rate for Leitrim unchanged was put forward by Cllr Mary Bohan and seconded by Cllr Padraig Fallon, however it was defeated by 12 votes to five with one member absent from the meeting.
Mr Power gave a formal commitment that the additional funds raised would used for projects going forward from 2020.
See this week's Leitrim Observer for more from the meeting.
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