Irish budget: interesting detail on site value tax
Measures will broaden the tax base, abolish or curtail a range of tax exemptions and relieves, and introducing a new site value tax.
On the surface, this looks like a land value tax. This follows a release at the beginning of the month from an Irish group called the Smart Taxes Network, calling for a site value tax: "a proposed annual charge on the value of residentially zoned land" and it stresses that this is not a property tax. As they say:
"The tax collects much of the increase in land values caused by services and infrastructure provided by national and local government, so that increased tax revenues will gradually repay public expenditure."
That does look like a land value tax. However, this was just what was called for a few weeks ago, though we don't have confirmation that this is what they mean in the budget itself. Some property surveyors seem to think otherwise: they are calling it a property tax. Interested if anyone can provide more info. Read more on land value taxes here.