Michael McGrath (Cork South Central, Fianna Fail)
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The Vacant Homes Tax (VHT) as announced in Budget 2023, aims to increase the supply of homes for rent or purchase to meet demand. Legislative provision for the tax was made in the Finance Act 2022 and states that a residential property will be within the scope of VHT, if it has been occupied as a dwelling for less than 30 days in a chargeable period.

VHT operates on a self-assessment basis, where the number of properties in scope and the amount of tax payable, depends on the self-assessed returns submitted by property owners, the number of properties declared as liable, and the number of property owners entitled to claim available exemptions from the tax. The first chargeable period commenced on 1 November 2022 and ended on 31 October 2023. The first self-assessed returns were due on 7 November 2023 and the associated tax payable on or before 1 January 2024.

In addition, VHT does not apply to derelict or uninhabitable properties. Where a property is uninhabitable, to such an extent that it is not suitable for occupation, it is outside the scope of VHT and is not taxable. In such circumstances, the property owner is not required to file a VHT Return.

I am advised by Revenue that, while it collects information on various aspects of VHT at individual and Local Authority levels, it does not capture data in relation to local areas. Consequently, the information requested is not available.

Notwithstanding, Revenue has advised that as of 4 March 2024, 78 properties in Cork City Council and 310 properties in Cork County Council local authority areas, are eligible to pay VHT. Finally, as VHT returns can be subsequently amended by the filer, the underlying numbers may fluctuate.