Galway Bay fm newsroom - The Government is considering raising property tax on vacant properties in rent pressure zones such as Galway city.
The proceeds would be used to cut income tax and build more homes.
According to today's Irish Times, property tax could be be almost doubled for property owners in areas where there is a high demand for housing.
Taoiseach Leo Varadkar has already said that he plans to cut income tax, even if it means raising other taxes.
The prospect of increasing property tax on vacant homes will be examined by Finance Minister, Michael Noonan and Housing Minister, Eoghan Murphy.
Under new legislation, rents in rent pressure zones are only permitted to rise by 4 per cent annually.
Parts of Galway city, Cork city and its some of its suburbs, commuter counties around Dublin and all of Dublin itself have been classified as rent pressure zones.
