Further doubt about vacancy tax, as the tax authorities identify 57,000 vacant properties

Further doubt about vacancy tax, as the tax authorities identify 57,000 vacant properties

Further doubts have been expressed about the vacancy tax, as the turnover figures show just over 57,000 vacant properties.

Local tax returns show that 57,206, or 3.2 pc of the properties, were declared vacant by their owners on November 1, 2021.

This is in stark contrast to recently published preliminary CSO figures showing 166,000 vacant properties.

However, government sources insisted that these figures include dilapidated homes, which are not subject to the local property tax (LPT).

One-fifth of the 57,206 properties registered by Revenue, or more than 11,000, are vacation homes, while the majority of homes – 42,522 – are not their owners’ primary residence.

The highest vacancy rates were found in Donegal with 6.7 pc, Kerry with 6.4 pc, Leitrim with 6.3 pc. and Mayo with 6 pc.

The most common reason for vacancy was that the houses are holiday homes, with 40.6 pc of this being the case. of vacant homes in Donegal and 39.9 pc. in Kerry are holiday homes.

According to the newly published turnover figures, only 2.6 pc. of the properties in the municipality of Dublin City are empty.

In the city of Cork, 2.6 pc. of the buildings registered as vacant, with 2.4 pc. in the city of Galway, 2.5 pc. in the city and county of Limerick, while the Fingal region of Dublin has only 1.7 pc. registered vacant homes.

The most common reason (22.4 percent) for vacancy was that they were being refurbished, and 20.4 percent of vacant properties were registered as holiday homes.

Of homes that have been vacant for more than a year, a third of the owners indicate that the property is being renovated.

Of the 57,206 properties reported as vacant by their owners, 3,450 are owned by local authorities and recognized housing associations (AHBs).

About 61 percent of vacant properties had been vacant for less than 12 months.

There are 553 property owners who own 10 or more properties with at least one reported vacant.

Of these, 108 owners own 10 or more vacant properties.

About 77 percent of vacant properties have a value of less than €350,000.

Treasury Secretary Paschal Donohoe said tackling vacancy and vacancy is a “primary objective” for the government.

“While both the income data and the preliminary Census 2022 data show that vacancy rates are within a normal range, it is important that the government ensures that all viable housing stock is used,” he said.

“This information forms the basis for ongoing work on the merits, impact and design of a tax on vacant homes. Further details on this measure will be made available as my officials work out the technical details of managing a new tax.”

The government has previously pledged to introduce a vacancy tax to reduce vacancy.

Secretary Donohoe has previously said local property tax returns show a “low level” of vacancy and today’s new figures reveal this detail for the first time.

Independent.ie previously reported how officials within the Treasury Department are investigating whether electricity consumption can be tracked to identify vacant properties.