budget 2024

Housing: Land hoarding tax delayed until 2025 but rise in Vacant Home Tax

Minister for Finance has put off imposition of the Residential Zoned Land Tax while hiking the Vacant Home Tax

Finance Minister Michael McGrath and Public Expenditure Minister Paschal Donohoe on Budget day

The new tax on land hoarding has been delayed by one year by the government, while penalties on owners of vacant homes will be increased next year.

In recent years, the government has been under pressure to address vacancy in the residential market and bring large amounts of idle development land into use.

In 2021, then finance minister Paschal Donohoe announced plans for the new Residential Zoned Land Tax (RZLT), levied at 3 per cent ...