Friday 18 October 2019

Stamp duty receipts take tumble

Gordon Deegan

JUST €198.6m was collected in stamp duty last year across the country -- with 43.4pc, or €86.2m, generated in Dublin.

The €198m compares to more than €3bn that was collected in stamp duty in 2006, at the height of the property boom.

Unsurprisingly, cities were highest on the list for stamp duty, which is the tax collected on property sales.

The figures show that Cork came second to Dublin, generating 10.5pc, or €20.86m, in the property tax in 2010.

The next most buoyant property market was based in Galway where €9.34m, or 4.7pc, was raised.

But the counties adjoining Dublin generated higher levels of stamp duty than some cities such as Limerick or Waterford.

In response to a Dail question from Independent TD Michael Healy-Rae, Finance Minister Michael Noonan also outlined a number of counties that failed to generate €1m in stamp duty last year.

Leitrim and Longford each generated €600,000.

Chief economist with Sherry Fitzgerald Marion Finnegan said yesterday that while Dublin had 30pc of the property stock, it achieved 43pc of the property sales last year.

Irish Independent

Editor's Choice

Also in Irish News