Home buyers will foot the bill for land hoarding tax, says lobby group

Property Industry Ireland has warned the government that the incoming residential zoned land tax (RZLT) will only make housing more expensive

Property Industry Ireland has raised concerns that the residential zoned land tax will disincentive developers from taking on housing projects

A property-industry lobby group warned the government last year that home buyers will ultimately foot the bill for the new land hoarding tax, because any fee imposed on developers will be added to the price of units.

From February 2024, a new residential zoned land tax (RZLT), levied at 3 per cent of a site’s market value, will come into force. The tax is designed to counter hoarding and speculative behaviour in the Irish property ...