Government Must Remove Farmland from Residential Zoned Land Tax – IFA
IFA Business chair Bill O Keefe has called for all actively farmed land to be removed from the residential zoned land tax. A motion to exempt farmland from the residential zoned land tax by Fine Gael TD’s, Senators and MEP’s is positive but needs to be confirmed to provide clarity for farmers.
“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”.
According to the IFA, The Minister for Finance, Jack Chambers has it within his power to provide the exemption to farmland for the residential zoned land tax in the upcoming Budget 2025 and Finance Act.
The IFA is urging the Minister to announce the exemption before Budget 2025 to alleviate fears for farmers who have land that falls under residential zoning development plans.
