Property ownership in Ireland comes with a set of recurring and one-off taxes. This page gives a general orientation so that you know which questions to ask. Rates, thresholds, exemptions and deadlines change with each Budget and Finance Act, so treat this as a starting point and confirm the current position with Revenue or a qualified tax adviser.
Local Property Tax
Local Property Tax (LPT) is an annual self-assessed tax on residential property. Owners generally have to file a return and pay based on a valuation band for their home. Local authorities have had the ability to adjust the rate within limits, and some exemptions and deferral options exist for particular circumstances. Revenue publishes the valuation guidance and the payment methods each year.
Stamp duty on purchases
Stamp duty is paid when property is acquired, and the rate depends on the type of property and its price. Residential and non-residential transactions are treated differently, and your solicitor normally calculates and pays the duty as part of the closing process. Because the bands have changed over time, ask your solicitor to confirm the rate that applies on your completion date.
Tax when you sell or rent out
Selling a property that was not your main home can trigger Capital Gains Tax, calculated on the gain rather than the full sale price, with reliefs available in some situations. Landlords must declare rental income and are generally entitled to claim certain allowable expenses, although the rules on what qualifies are specific. Records of purchase price, improvements and expenses are worth keeping from day one.
Newer charges aimed at vacant and undeveloped land
In recent years measures such as the Vacant Homes Tax and the Residential Zoned Land Tax have been introduced to encourage use of vacant homes and zoned land. Whether a property or site is caught depends on detailed criteria, so owners of vacant or undeveloped property should read the Revenue guidance for their own situation.
For anything specific to your circumstances, speak to a registered tax adviser or contact Revenue directly. Nothing on this page is tax advice.