Results 5,361-5,380 of 15,009 for speaker:Eoin Ó Broin

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: In the first example, I used land that had been previously agricultural and was rezoned as residential. At the point of valuation, the existing use was agricultural and the market value was for it being zoned as residential. If that land had been previously zoned as residential and was just waiting to be developed, and in the latest development plan its zoning was continued or carried over,...

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: To be crystal clear on this, at this point in time, the land that had been previously zoned residential was rezoned residential. It was not actually being developed but was not being used for agriculture. It was just vacant, uncommenced, residentially zoned land. What is its existing use calculation? Is it the last time it was actually in existing use?

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: As vacant land-----

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: I apologise if I am not being clear. Let us take the South Dublin County Development Plan 2022-2028 because it is an easier, concrete example. When that development plan was approved it was zoned residential, so it is the market value for residentially zoned land at that point in time. If that land had been in the previous development plan and the development plan before that and was also...

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: The witnesses are saying the valuers will have a mechanism to determine what the existing-use value of that is.

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: Perfect. I am crystal clear on that.

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: Sure. We have our existing-use value and our market value. As the witnesses said, the owner of the land can discharge responsibility or liability for 30% of the difference between the two valuations. Many developers will say that upfront costs are one of the most significant barriers to development. Let us imagine that many landowners who are also developers are unlikely to want to pay...

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: It is still at a relatively early stage of the development process, particularly for larger pieces of land. In some cases, that would be a large financial liability in an early phase, whether they do it at the point of-----

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: Those are the transitional arrangements. Post transition, when we do the next round of county development plans, will it be a similar process? When the new development plans are approved, at the point of approval, a new valuation process will kick in-----

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: -----based on the same one but without the time.

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: That makes the process clear. One concern about this is whether it might contribute to future land price inflation. It is not for the stuff that has already been zoned and valued but future prices. Has there been any assessment, study or attempt to examine whether there could be an unintended consequence of contributing to land price inflation? A seller of land who is not a developer, but...

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: Under the terms of the scheme, if the land is transacted at a later stage, is the existing land value-sharing tax still the liability of the seller of the land at the point of transaction or the new purchaser of the land within the first phase of assessments?

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: Whoever owns it at the point of implementation has to pay. Has an assessment been done to ensure, to the best possible extent, that this mitigates against land price inflation and its potential impact, particularly in high-demand areas?

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: Which are the development contributions.

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: I am afraid I still have quite a lot of questions. What was the rationale for a 30% charge on the uplift value?

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: For the benefit of the committee, I know the Part V legislation has a mathematical formula to help determine the discount. I have always understood that in very simple terms, in that the core element of the discount and the purchase price of the Part V on the land is calculated at existing use value rather than market value. I appreciate what has been said about 20% and 30% but the real...

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: No, that is fine.

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: My next question then is if in those more detailed considerations with the consultants, live or test examples of inner urban core lands, suburban land and county land were used? Without asking Mr. Hogan in any way to reveal any commercial confidentiality, could he give us some examples of what kind of value uplift we are looking at in an inner-urban or suburban site in Dublin and what does...

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: Absolutely.

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (4 May 2023)

Eoin Ó Broin: This leads me on to the next question. As we know, Mr. Justice Kenny was not necessarily a great fan of development taxes and benefit contributions. One of his criticisms of the 1947 Act on which a lot of these measures are based is that ultimately they end up being passed on to the purchaser of the home. I am thinking of a situation where a landowner who is also a developer whose land was...