Residential zoned land tax will come to the fore from this November

Article by Michael Fitzgerald.

• 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

Read the full article here.

Michael Fitzgerald is a tax consultant with FDC in Bandon.