Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I draw the Deputies' attention to the data compiled by the Revenue Commissioners. In total, 57,206 properties were indicated by their owners as being vacant as at 1 November 2021, according to the provisional analysis published by the Revenue Commissioners. It is interesting to look at the reasons for the vacancy. That information was sought by the Revenue Commissioners. About 22% of the homes declared to be vacant were holiday homes. Some of those homes would be occupied for more than 30 days a year and therefore will be exempt from this tax unless it is planned to propose changes to the scope of it. Another 12,000 of those homes, or approximately 21%, are undergoing refurbishment. Again, if there is work under way those homes will be exempt from the tax. About 3,500 of the homes are owned by local authorities or approved housing bodies. Another 3,000 of the homes had exemptions from the LPT primarily because of illness of the owner, which is the reason the house is not occupied. When we go through the profile of the 57,000 properties that the Revenue Commissioners found to be vacant, many genuine reasons are found for those properties being vacant and, indeed, being exempt from such a tax. The commitment I give to the House is that I will keep this under review. This is a new tax and we are in the first chargeable period. The returns fall due in the months ahead and the charge will be levied. I will keep the operation of the tax, including the rate of the tax, under review.

See this speech in context