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Site Value Tax in Programme for Government

Yesterday 10th October 2009 is an historic day for Ireland and even the World.  On that day, the Coalition Government of the Fianna Fail and Green Party announced a revised Programme for Government  that said.

“Starting with the necessary valuation and registration process, we will move to introduce a Site Valuation Tax for non-agricultural land. This system will provide a fair and stable basis for offsetting stamp duty on residential property:” (page 4)

This is good news and let us just enjoy the prospect for a while;- time enough for the caveats. Let us congratulate all Smart Network partners, especially the Urban Forum and especially economist Dr Constantin Gurdgiev whose two research papers (Macroeconomic Case for a Land Value Tax Reform in Ireland) and  ( Land Value Taxation and other Measures for raising Public Investment Revenue: A Comparative Study.) provided the data and analysis that  proved persuasive.

A third  research paper is planned that will sketch out the scope of a practical LVT scheme for Ireland.  This will include land/site value tax levels, allowances, phasing and transitional arrangements and crucially for government, the level of taxes that might be raised.

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