Residential zoned land tax will come to the fore from this November
- Residential Zoned Land Tax’ (RZLT) was introduced by the Finance Act 2021 to encourage the timely activation of zoned and serviced residential development land for housing.
- Agricultural land is not exempt from this new tax.
- Each County Council is to prepare a draft map of land zoned for residential or mixed use.
- The public will have the opportunity to make written submissions regarding the inclusion and exclusion of lands in the draft map.
- The final map must be published on or before December 1st 2023.
- Residential property and their gardens are excluded from the tax. No action is required from the landowners where the land is less than an acre.
- There will be a limited number of farmers faced with the choice of selling land, or seeking to have the farmland de-zoned
Michael Fitzgerald is a tax consultant with FDC in Bandon.