Exemption of Farmland from Residential Zoned Land Tax Must be Delivered in Budget 2025
IFA National Farm Business Chair Bill O’ Keefe has called on the Minister for Finance to announce the exemption of actively farmed land from the Residential Zoned Land Tax.
Mr. O’Keefe highlighted the importance of excluding farmed land from this tax, meant to be effective from February 2025. “While elected IFA representatives and farmer members have received positive and understanding comments from politicians, the RZLT still remains in place.”
“This situation is causing unnecessary stress and huge worry among many farm families throughout the country who will be impacted by this unaffordable taxation measure,” Bill O’Keeffe said.
Re- emphasising his call to the Government to exclude farmland from this tax, the National Farm Business Chair said that the implementation of the tax on farmed land could be seen as an attempt to force the hand of landowners.
“To saddle genuine farmers with huge tax bills in an attempt to be seen to solve the housing crisis is very cynical,” he said.
“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.”
“The Minister needs to confirm this exemption before Budget 2025 to alleviate the fear and anxiety felt by many farmers who have farmland that is currently eligible for this penal tax,” he concluded.
