Thousands of Irish property owners could be hit with a new Residential Zoned Land Tax unless they contact their local council to protest their inclusion.
The new tax will target any unused land zoned and serviced for housing, regardless of its size, according to local authorities, and will be in effect from 2024.
Maps showing which areas of land are liable for the tax have been published by each local authority and landowners have until January 1, 2023, to contact their council to dispute the inclusion of their land on the draft map.
The existing levy, which has been in effect since 2018, only targets the owners of sites bigger than 0.05 of a hectare and the majority of the site must be “vacant or idle” for more than one year.
The new tax will be based on the market value of the land and the rate will be 3%. It is understood that homeowners may see their properties included on the maps, but will not have to pay the new tax if the land is already subject to local property tax.
However, a homeowner may have to pay the tax if they own a residential property that appears on the local authorities’ maps that is not subject to the LPT.
Dublin City Council is urging members in all districts to look at the maps and make a submission for amendments as soon as possible.
Council Chief Executive Owen Keegan said: “Dublin City Council requires increased housing supply to meet our housing needs and the new tax aims to incentivise landowners to develop housing on serviced lands zoned for housing, both land with existing planning permission and land without.”
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