Results 5,301-5,320 of 14,943 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: 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...

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 appreciate that, but my question is not so much about the timeline, because even if we change that, the scenario still arises. This is not an argument against it. I am just trying to understand it. Because the levy applies effectively from the point at which the zoning was granted, which is a year or two years ago, depending on where one was in the planning cycle, whether I was due to...

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: Is Mr. Hogan saying that, even with the existing timeline, there is potential for someone to accelerate a development? If a person were to get in and commence prior to the establishment of the register would the levy be avoided? My understanding is that the levy will apply from the point of zoning. Is that not correct?

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: Okay.

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: Anyone with existing planning permission is not in any way affected.

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 that sense, it does not add any additional cost to anyone who has existing zoning and existing planning permission if they ensure they get it built out before the next re-evaluation.

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 long as that permission was granted before December 2024 under the transitional mechanisms.