Revenue to collect new derelict tax from property owners under plans to boost housing supply

"Revenue will be given the powers to collect a proposed new derelict site tax of at least 7pc, under plans to boost housing supply."

"The Coalition's long-awaited housing plan is expected to propose new laws to replace the current derelict site levy, which is collected by local authorities and is generally only paid after a site is sold."

Revenue will be given powers to collect a proposed derelict site tax of at least 7% intended to boost housing supply. The measure shifts responsibility from local authorities to Revenue and introduces a minimum tax rate to increase deterrence against leaving sites derelict. New laws will replace the current derelict site levy framework. The existing levy is collected by local authorities and is generally paid only after a site is sold, which limits its immediate impact on redevelopment incentives and timely site activation.

Read at Independent