The Government’s Housing For All – A New Housing Plan for Ireland proposed a new tax to activate vacant land for residential purposes as a part of the Pathway to Increasing New Housing Supply. The Residential Zoned Land Tax was introduced in the Finance Act 2021. Each Local Authority has published draft maps identifying lands which are subject to the tax. These are now open for consultation until the 1st of January 2023.
A
supplemental map will be published on 1st of May 2023,
identifying additional land considered to be in scope as a result of a change
of zoning, servicing or where the local authority becomes aware of the fact
that land, which didn’t appear on the draft map, may meet the criteria for
being in scope, such as where this has been identified during submissions. The
supplemental map will also be on public display and open to submissions which
may challenge the inclusion of additional land on the map.
Land
appearing on both the draft and supplemental maps, as amended to take into
account the outcome of submissions made in respect of the land on these maps,
will be included on the final map of land in scope for the tax in the local
authority area to be published on 1st of December 2023. This
land will be subject to the tax unless it is exempt as a residential property.
The objective
of the tax is to activate land that is serviced and zoned for residential use
or mixed use, including residential use, in order to increase housing supply
and to ensure regeneration of vacant and idle lands in urban locations. These
locations have been identified within statutory land use plans as being
appropriate locations for housing and they have benefitted from investment in
the key services to support the delivery of housing. The tax will be calculated
at 3% of the market value and payable from 2024.
Article by Brendan Buck of BPS Planning & Development Consultants LTD
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