The Minister for Finance Paschal Donohoe has said that since accurate data will not be available in time, a vacant property tax will not be announced in the next Budget.
A vacant property tax is something that is being considered, but there will not be accurate data until changes have been made in the Local Property Tax, Mr Donohoe told RTÉ’s Morning Ireland on Friday.
“It is something that I am examining. One of the issues that we have had and we’ve looked at this issue in the past, is that we have not had an accurate enough data set to understand genuinely what is the quantity of property that is completely unused,” Mr Donohoe said.
“At the very least, what the Local Property Tax changes will allow us to do is to get that data but regardless of that I am always looking at what tax options are available to me to make more efficient use of land.”
Mr Donohoe said in the absence of accurate data, the levy will not be included in the next Budget, but it was something “that could form future policy choices.”
The Department of Finance said it is proposed to use the Local Property Tax revaluation opportunity to obtain information about vacant residential properties.
“Revenue is currently redesigning its LPT return form to take account of the new arrangements. Revenue will give priority to the information that is required to give effect to its administration of LPT,” a spokeswoman said.
“It’s likely that the questions will be limited to whether a property is vacant as at November 1st, 2021, if so, if it has been vacant for a specified period and the reason for the vacancy.”