A Site Value Tax for Ireland: Approach, Design and Implementation

Micheal Collins () and Adam Larragy ()
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Adam Larragy: Royal Holloway, University of London, United Kingdom

Economic Papers from Trinity College Dublin, Economics Department

Abstract: Ireland's Memorandum of Understanding (MoU) with the EU/IMF requires government to introduce a recurring annual property tax. While the MoU has not specified the precise form this new taxation measure will adopt, commitments in the National Recovery Plan 2011-2014 and Fine Gael/Labour Programme for Government have pointed towards the introduction of an annual Site Value Tax (SVT). Budget 2011 suggested that the yield from this tax source would grow from 180m in 2012 to reach 530m in 2014. Similarly the MoU commits government to raising additional taxation revenues of 1.5bn in 2012 and 1.1bn in 2013 with both to be partly funded by a property tax and increases to that tax. To date assessments of the feasibility of a SVT (by the Commission of Taxation and the Department of Finance) have pointed towards a series of practical difficulties associated with its introduction. This paper outlines a proposal to overcome these difficulties and to introduce a credible, fair and reliable annual SVT from January 2013. The paper uses the land registry database of the Property Registration Authority of Ireland (PRAI) to outline the structure and administration of a SVT.

Keywords: Taxation; Property; Fiscal Policy; Ireland (search for similar items in EconPapers)
JEL-codes: H22 H27 H71 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2011-12
New Economics Papers: this item is included in nep-acc
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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