An increase in house prices across the country could result in property tax hikes of up to €500, according to reports.

These increases will be introduced unless the system is reformed.

Hitting out at the reports, Fianna Fáil Spokesperson on Housing Darragh O'Brien said: "As part of the Local Property Tax review we made a detailed submission and very firmly outlined our opposition to introducing any increases.

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"There has been an inexplicable delay in completing this review and establishing proposals around the future of the tax itself.

"This uncertainty is causing major stress for both homeowners and local authorities nationwide. Families in a number of parts of Dublin are especially anxious given the rapid rise in property price in those areas since this tax was first introduced six years ago.

"Those affected don't know whether to preempt a rise by making cutbacks now to their household budget or to plough ahead as is but then face a costly bill of close to €500.

"A key strand of Fianna Fáil's policy in this area is affordability but with revaluations set to take place this November, reforms must be made to avoid large increases."

Deputy O'Brien has urged the government to provide certainty on the issue.

(CM)