Written answers
Tuesday, 16 October 2007
Department of Finance
Tax Code
10:00 pm
Tommy Broughan (Dublin North East, Labour)
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Question 140: To ask the Tánaiste and Minister for Finance the numbers of first time buyers availing of the revised first time buyer's exemption; the value of such houses above €300,000 and the number in each category in rises of €50,000; and the cost to the Exchequer of the revised exemptions to stamp duty for first time buyers to date. [23670/07]
Brian Cowen (Laois-Offaly, Fianna Fail)
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I am informed by the Revenue Commissioners that the information requested by the Deputy in relation to the first time buyer exemption from Stamp Duty introduced in the Finance (No. 2) Act 2007 is as set out in the table, which reflects the position up to and including 30 September 2007.
| First Time Buyer Transactions exempted under the provisions of the Finance (No. 2) Act 2007 | |||
| Consideration | Number of Transactions | Cost to Exchequer | Aggregate Value of Property |
| € | €m | €m | |
| 317,500-350,000 | 388 | 3.93 | 130.850 |
| 350,000-400,000 | 664 | 8.63 | 248.460 |
| 400,000-450,000 | 219 | 5.57 | 92.900 |
| 450,000-500,000 | 133 | 3.80 | 63.300 |
| 500,000-550,000 | 92 | 2.92 | 48.655 |
| 550,000-600,000 | 67 | 2.31 | 38.582 |
| 600,000-650,000 | 36 | 1.46 | 22.540 |
| 650,000-700,000 | 6 | 0.37 | 4.103 |
| 700,000-750,000 | 11 | 0.73 | 8.103 |
| 750,000-800,000 | 5 | 0.35 | 3.878 |
| 800,000-850,000 | 10 | 0.75 | 8.305 |
| 850,000-900,000 | 6 | 0.48 | 5.285 |
| 900,000-950,000 | 7 | 0.59 | 6.522 |
| 950,000-1,000,000 | 4 | 0.35 | 3.885 |
| >1,000,000 | 13 | 1.52 | 16.462 |
| Total | 1,661 | 33.76 | 701.830 |
This table represents only transactions that would not have been exempt from stamp duty, but for the changes introduced in the Finance (No. 2) Act 2007. Houses below €317,500 are therefore not included because they were already exempt, as were, for the most part, new built houses.
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