Zoned land tax will cut penalty for hoarding and won’t take effect for two to three years
No Budget measures were announced for a vacant home tax, with the government holding off until Revenue has collected data to inform the policy
The government’s new “zoned land tax” will cut the penalty for land hoarding from 7 per cent to 3 per cent and will not take effect for between two to three years.
The new scheme announced as part of Budget 2022, which will replace the outgoing Vacant Site Levy system, is aimed at encouraging property owners to use land to build homes. No measures were announced for a vacant home tax, with the...
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