Revenue has published preliminary analysis of the data on vacant properties captured as part of the Local Property Tax (LPT) returns.
LPT returns for over 1.62 million properties filed with Revenue as at the end of June 2022 indicate that 57,206 (3.2 percent) of those properties were vacant at 1 November 2021 for reasons including ‘undergoing refurbishment’ and ‘holiday home’. Overall, 61 percent of vacant properties were reported as being vacant for less than 12 months. Such vacancy levels are considered to be consistent with those of a functioning housing market.
Welcoming the publication, the Minister for Finance, Paschal Donohoe said:
“This information provides the basis for ongoing work on the merits, impact and design of a tax on vacant residential properties. Further details on this measure will be made available as my officials work out the technicalities of administering a new tax".
Further information is contained in the Local Property Tax (LPT) for 2022 Preliminary Vacancy Analysis.