Site Value Tax

The Green Party/Comhaontas Glas proposes the introduction of a Site Value Tax (SVT) to replace the existing Local Property Tax (LPT) and commercial rates regimes.

The introduction of SVT will address various issues such as poor usage of land and land hoarding, it will incentivise land and property improvement, and so reduce homelessness and the lack of housing. The Site Value Tax will be operated and collected by the Revenue Commissioners, working with the Local Authorities. Monies raised will be used for funding local authorities who will exercise some discretion as to the application and rate of the tax. SVT will be applied at various rates depending on the land to which it is being applied i.e. residential, commercial etc.

Key Policy Points

SVT will replace LPT and commercial rates (currently SVT on residential land as per LPT is @ approx. 0.5% and on commercial property is at approx. 4% and these may be retained).

Vacant Sites and Derelict Sites levy will be in addition to SVT (currently those levies are at 7% and this may be retained).

Empty Dwellings levy (for buildings empty more than 18 months) will be in addition to SVT (perhaps the total will be at 7% as per Vacant and Derelict Sites levies).

Windfall Tax will be 80%.

All land must be registered with Land Registry.

SVT is levied on land by Local Authorities as valued by Local Authorities.

SVT to be collected by Revenue Commissioners.

Site owner is responsible for paying SVT.

SVT can be deferred until site ownership transferred in cases of financial hardship of existing occupant/homeowner.

SVT will be applied to all land in due course though some may be zero rated.

SVT will be applied at different rates depending on land type (e.g. residential, commercial, agricultural, educational, recreational).

SVT used to fund Local Authority services (as per LPT and rates currently).

The application of SVT to agricultural land should be addressed in Agricultural Policy and will apply to enclosed (i.e. land without access to the public).

Policy revised: December 2020

UN Sustainable Development Goals: 11, 12, 15


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