The Department of Finance has published preliminary figures on 2023 Vacant Homes Tax (VHT) from the returns that were due by 7 November 2023. With over 50,000 properties reported on through Revenue’s VHT portal, as of 20 November, approximately 5,000 of these properties were declared as vacant, with 45,000 declared as occupied. Approximately 2,000 of the properties that were declared vacant have claimed an exemption from VHT, resulting in circa 3,000 properties with a liability to VHT.
Property owners are reminded that they are obliged to self-assess their liability to VHT and submit a return where relevant, even if they do not receive correspondence from Revenue. Revenue may contact further property owners at a later date following further data analysis.
Budget 2024 included an increase in the rate of VHT to five times the property’s base Local Property Tax (LPT) charge.
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