Oireachtas Joint and Select Committees
Wednesday, 22 March 2023
Committee on Budgetary Oversight
Stability Programme Update: Discussion
Dr. Conor O'Toole:
No. It is a general view, if we want to look at what the purest form would be of a graduated land value tax. A site value tax would come in as a cost penalty for land that is already zoned and ready to go for development purposes. That is where it would fit into the system. The residential property tax that is paid on existing residential properties would continue as it is. It is to use a fiscal instrument to ensure there is a cost to holding land that the State has designated is to be used for development purposes. That is really why a measure like this would be brought in be the fiscal instrument that would look at that cost.