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Tax return research shows low vacancy rates, Donohoe says

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A preliminary analysis of local property tax (LPT) returns by the Revenue Commissioners shows that there is a “small” number of vacant housing units across the country, according to Treasury Secretary Paschal Donohoe.

He said he and his department need to fully assess the numbers before approaching the government with proposals for an unoccupied property tax.

Housing Secretary Darragh O’Brien recently insisted the government would introduce the vacancy tax in the 2023 budget.

A pledge for the tax was made by the government in its Housing For All plan.

“It’s important to really get a handle on the level of vacancies,” Mr O’Brien told Newstalk last month.

It is estimated that there are up to 137,000 vacant residential properties nationwide.

Mr Donohoe was questioned by Sinn Féin’s finance spokesman Pearse Doherty last week about the tax and whether the government would introduce it in the forthcoming finance bill. Mr Donohoe said the timeline for implementing the tax measure under the Housing for All directive is the second quarter of 2022.

He said Revenue was able to collect data on LPT returns related to properties such as: B. their occupancy status, how long they may have been unoccupied and why.

“This information, along with information from other available sources, will be used to assess the merits and impact of introducing a vacancy tax.

“When considering such a tax, it is important to have a sound understanding of the quantity, location and characteristics of long-term vacant properties,” said Mr. Donohoe.

“Revenue has completed a preliminary analysis of the LPT returns received to date, which has been shared with my department.

“The results of the preliminary analysis indicate that vacancy rates are low in all counties.

“I will review the issue in consultation with colleagues before approaching the government with suggestions for the appropriate response. From what I understand, Revenue plans to release a profile of occupancy data from the LPT returns in due course.”

He said tackling vacancy and dereliction and maximizing use of the existing housing stock is “a priority objective” for the government.

https://www.independent.ie/business/irish/tax-return-research-shows-low-level-of-vacant-properties-says-donohoe-41723562.html Tax return research shows low vacancy rates, Donohoe says

Fry Electronics Team

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