Limerick landowners urged to check draft maps as deadline for new tax approaches
LIMERICK City and County Council is advising members of the public they have until New Year’s Day to check and make submissions on draft maps that show lands in Limerick that will be subject to the new Residential Zoned Land Tax.
The new tax is aimed at increasing housing supply by activating zoned, serviced residential development lands (including mixed-use lands) for housing.
It will apply annually at a rate of 3% of the market value of the land. Greenfield and brownfield land which is identified and is zoned for housing (include land zoned mixed-use) will be subject to tax from 2024.
The draft maps are now available to view on Limerick.ie and in the council’s public offices in Merchant’s Quay, Dooradoyle, Rathkeale, Newcastle West and Kilmallock. They show the lands that will be subject to the new Residential Zoned Land Tax.
Landowners and third parties have until New Year’s Day – January 1, 2023 – to make a submission to Limerick City and County Council about whether or not land on the maps meets the criteria for being subject to the tax.
Urging people to check the draft maps, Vincent Murray, director of economic development and enterprise with the council, said: “I would strongly urge members of the public to assess the Draft Maps published on Limerick.ie and, if required, make a submission before 01 January 2023.
“Limerick requires increased housing supply to meet our housing needs and the new tax aims to incentivise landowners to develop housing on serviced lands zoned for housing, both land with existing planning permission and land without.”
Homeowners will not have to pay the Residential Zoned Land Tax if they own a residential property which appears on the local authorities’ Residential Zoned Land Tax Maps, but which is subject to the Local Property Tax (LPT).