A special meeting is taking place in Áras an Chontae.
Radio Kerry News understands that at an in camera meeting between Kerry County Councillors and management last week it was revealed that the local authority has a gap of up to five million euro in its finances.
The local property tax is used as a source of income for the council to cover services.
Councillors have the power to increase or decrease the rate by 15 per cent or leave it unchanged.
Last year councillors agreed to leave the rate unchanged despite a proposal from Sinn Fein to reduce it.
At that meeting CEO of the council, Moira Murrell, said she couldn’t sanction a 15% reduction which would equate to a two-million-euro reduction in the council’s income.