Landowners to be hit with 30% property rezoning tax
Councils set to benefit from ‘radical’ new tariff with proceeds to be used to pay for local social and road infrastructure
Landowners will be hit with a new rezoning tax of 30 per cent next year to raise more money for local infrastructure, the Business Post has learned.
Darragh O’Brien, the Minister for Housing, secured cabinet approval last week to draft the new legislation for a land rezoning tax.
It will result in landowners, such as developers, farmers or investors, having to pay a tax of around 30 per cent on the gains...
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