Government Must Remove Farmland from Residential Zoned Land Tax
IFA Farm Business chair Bill O’Keeffe has called on the Government to remove all actively farmed land from the residential zoned land tax (RZLT).
A motion to exempt farmland from RZLT by Fine Gael TDs, Senators and MEPs last week is positive and aligns with IFA’s policy of not imposing this unfair tax on many farmers around Ireland, but it needs to be confirmed and clarity given to farmers.
Bill O’Keeffe said, “This penal tax, if implemented, could result in the forced sale of farmland, potentially undermining the livelihoods of farmers. This could happen without any consideration given to potential buyers, or the subsequent delivery of new homes, on this land. This annual 3% tax is due to take effect in early 2025. It’s completely unjust and must not be forced on farmers”.
The Minister for Finance Jack Chambers has it within his powers to exempt farmland from RZLT in the upcoming Budget 2025 and subsequent Finance Act.
IFA is calling on the Minister to announce this exemption before Budget 2025 to alleviate the fear and anxiety felt by many farmers who have farmland that falls under residential zoning development plans.
