The Clare branch of the IFA has dismissed the deferred tax on residential zoned land as a “land grab”.
Finance Minister Jack Chambers has confirmed the Residential Zoned Land Tax, which would see land zoned for residential development taxed at 3% of its market value, has been deferred until next year.
The tax had been proposed to target land hoarding by developers, and the Government has revealed plans are afoot to draft a new scheme that will exclude farmers who which it was feared would be inadvertently affected.
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Feakle native and Chairperson of the IFA in Clare Stephen Walshe believes farmers simply looking to retain land for agricultural use would be punished if the tax was applied.
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