Developer Michael O’Flynn secures exemption from vacant land tax for 12 Cork city sites via IrishTimesBiz
However, the other six remain on the list, along with six properties in Cork county. Of the six city sites, Mr O’Flynn said four are under appeal to An Bord Pleanála while his company — O’Flynn Group — is on site at the other two.
“Any land we have, we’re working to get planning, preparing to get planning, trying to resolve infrastructure to lodge planning, or it’s in Bord Pleanála, or we’re started on site. Land is our raw material and there is no benefit in hoarding land. But there’s a big issue now about people buying the raw material in advance if they must pay tax on it.”
Mr O’Flynn, who is a member of the Government-appointed Commission on Housing, said his company has spent “tens of thousands” of euro on professional fees to challenge the listing of his sites for the tax. “The principle of this is to force people to develop land. We’re being asked to pay tax but … I’m really calling for some common sense to be applied,” he said.
The RZLT is a new annual tax. It will be calculated at 3 per cent of the market value of land within its scope and will apply from 2024 onwards. Subject to some exemptions, it is due to be applied on serviced land that is zoned for residential use.Racegoers shield themselves from the rain and wind at the Fairyhouse Easter Festival in Fairyhouse, Co. Meath. Photo: Morgan Treacy/Inpho
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