The changes in rates will act as an important stimulation to the property market by removing uncertainty and will have a positive knock-on effect on connected activities leading to increased revenue for the Exchequer. It will also significantly reduce the cost of house purchase for persons seeking to move home or purchase their first home. For example, the stamp duty on a property valued at €200,000 is €5,250 at the current rate and this will fall to €2,000, representing a saving of €3,250, or 62%. Similarly, a house valued at €300,000 will now be charged at €3,000 instead of €12,250.

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