With mass opposition to tax on the family home this article outlines that certain folk will be exempt.
The new property tax that will take effect from 1st July 2013 was rushed through the Dail before Christmas, with the debate about its many and draconian provisions cut farcically short – in the end there were about three minutes per proposed amendment allotted for debates, and it was a pantomime display of democracy in action to see a Budget announcement one day, an expert report (which had been sitting on a minister’s desk for six months) published the next day and the next day still, 70-pages of new legislation.
In the rush, you might have missed some of the detail of the new household charge. And you might not be very pleased to learn that large country piles, and perhaps a few urban manors also, will not have to pay the tax on the value of so-called “amenity land” in excess of one acre.
Take the home on Shrewsbury Road in Dublin which was associated with the Dunnes, Sean and Gayle. “Walford” was bought for €58m at the height of the boom and was placed on the market with a guide price of €15m in 2011. It is understood that it still hasn’t sold. How much is it worth for property tax purposes? Difficult to say, but the property does have 1.5 acres of grounds. What we do know is the property tax will only apply to the first acre. As for the other 0.5 acre, that won’t be taxed at all.
Now take the country manor of embattled health minister James Reilly and his wife, Dot. Loughton House – pictured here – in Offaly is said to have 150 acres of amenity land, mostly woodland and gardens. How much will the man who has recently graced Stubbs Gazette have to pay in tax on the 13-bedroom mansion and surrounding land? Difficult to say, but what we do know, is that he will only have to value the sprawling estate as if it had one measly acre of amenity land.
In the Dail this week, the Minister for Finance Michael Noonan responded to questions from the Independent Kerry TD, Michael Healy-Rae and the Sinn Fein finance spokesperson Pearse Doherty. Minister Noonan did confirm that tennis courts are regarded as structures that need to be valued, and presumably outside swimming pools will be similarly treated. But if your home has private lakes, lawns, gardens, woodland only the first acre will be taken into account for valuing your property for the property tax.
Fair?
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