Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

A punitive tax of 10% would mean that the cost to such a property holder would be many thousands of euro. I look forward to hearing the Deputy make the case on Committee Stage of the Finance Bill. Regarding the charge she made about the level of vacant homes in the country, as she will be aware, the recent census indicated that there are 166,752 vacant homes nationwide. This is 7.8% of the housing stock. Many other studies indicate that the appropriate level of vacancy within any kind of functioning housing market is approximately 6%. The idea that there are many tens of thousands of homes available that could be immediately brought back into use is at odds with the figures that are there. To answer the Deputy's question regarding the cost of inflation and how it will impact on the vacant property tax, that will be reflected in the valuation of the property. As Deputy Shortall well knows, as inflation goes up, the property will be revalued accordingly and then the vacant property tax will go up as well.

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