Farmers wont be hit with new land tax, Taoiseach vows [Video]

Minister for Finance Jack Chambers is preparing options to ensure farmers working on “active” farmland are not included in a new land hoarding tax, writes Craig Hughes.

The Residential Zoned Land Tax (RZLT) is due to come into effect in February next year and would charge 3% of the market value on land zoned for, but not being developed for, housing.

Mr Chambers said: “I am working on options to exclude active farmland from the Residential Zoned Land Tax.

“It would be unfair to place this annual tax burden on active farmers in rural communities across our country which would risk the viability of certain farms and I am listening to their concerns.”

The RZLT was announced in Budget 2022 but has seen its implementation delayed over farmers’ concerns.

The tax aims to incentivise landowners to activate existing planning permissions in a bid to increase housing supply.

However, the introduction of the tax and penalties has …