New Derelict Property Tax to Apply at 7%

Owners of abandoned properties will face a 7% tax on their value if they do not address the issue, as the government introduces a new Derelict Property Tax. This measure is part of a broader effort to combat urban decay, with Revenue Commissioners now set to manage the levy.

The new tax will be administered by Revenue Commissioners, marking a shift from the previous system where local authorities were responsible. This change aims to improve the effectiveness of the levy, which had faced criticism in the past.

Local authorities are required to compile and submit derelict property registers by September 2027, with the first round of data expected to be published by that time. These registers will be used to enforce the new tax and track derelict sites across the country.