Property tax on vacant homes to rise as much as five-fold
Move by the government could effectively hit institutional funds that are sitting on valuable empty apartments with a penalty of between €5,000 and €7,000 per unit
Owners of vacant homes face a potential five-fold hike to their annual local property tax, the Business Post has learned.
Ireland has an estimated 180,000 vacant properties that could potentially be used for housing, which includes derelict units. Last week, Darragh O’Brien, the Housing Minister, said a vacant property tax will be introduced by the government in 2022 in a bid to bring some of these properties back into use.
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