Finance Minister Paschal Donohoe has revealed that there is a low number of vacant residential units across the country. This was established after a preliminary analysis of local property tax (LPT) returns was done by Revenue Commissioners.
The Minister commented that he and his department will still have to fully examine the figures before reverting to Government with proposals for a vacant property tax.
There is thought to be as many as 137,000 vacant residential properties across Ireland.
Sinn Féin finance spokesman Pearse Doherty recently raised the issue of the tax, asking whether the Government would introduce it in the forthcoming Finance Bill. Mr Donohoe replied that the timetable for delivery of the tax measure under the Housing for All policy is the second quarter of 2022.
He added that Revenue had collected data via LPT returns in relation to properties, such as their occupancy status, how long they may have been unoccupied and the reason for that.
“This information, together with information from other available sources will be used to assess the merits and impact of introducing a vacant property tax. In considering the case for such a tax it is important to have a sound understanding of the quantity, locations and characteristics of long-term vacant properties,” Mr Donohoe explained.
“The results of the preliminary analysis suggest that levels of vacancy are low across all counties.” Addressing vacancy and dereliction, and maximising the use of the existing housing stock, he said that this “is a priority objective” of the Government.