July 16, 2024
Business News Property

Kilkenny Council one of just four local authorities to collect vacant sites levy

Kilkenny County Council was just one of four of the country’s local authorities who collected the vacant sites levy last year, new figures reveal.

The failure of other councils to collect the levy left more than €9 million untapped.

Levies are suppsed to be imposed at a rate of 7pc of a site’s market value, with the revenue collected then used by councils for housing.

Properties valued at a total of €144 million were subject to the levy in 2019, indicating a potential revenue of more than €10m.

But just four councils – Kilkenny, Waterford, Wicklow and Dublin City – collected levies in 2019, bringing in a total of €882,000 in revenue between them.

The findings indicate serious flaws in the Government’s vacant sites initiative, which was intended to create a ‘use it or lose it’ penalty to encourage developers to start building badly needed housing.

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