Property tax on farm land

buccaneer89

I am not sure where to ask this but I would like to get an idea of how much tax I will be paying if I buy piece of land(let's say 5 acres) worth 50.000€ with a cottage already built?

I've heard that the property tax is arround 0.18% of the value.

Is there something else I should worry about if my intentions are living from the land, like having animals and plants to sustain myself.

ganmo

http://www.revenue.ie/en/tax/lpt/faqs/valuation.html#section4

LPT is payable on the house and up to 0.4047 hectares (equivalent to one acre) of the land

buccaneer89

Ok. I took a look and saw that depending on the band and reduction you will pay one amount or another.

But on the example of 50.000€ I will be paying on the first band which means a max of 90€, I guess per year.

Plus the 0.18% of 50.000 which is another 90€.

So am I right saying that I will be paying 180€ per year.

J.O. Farmer

buccaneer89 wrote: »

Ok. I took a look and saw that depending on the band and reduction you will pay one amount or another.

But on the example of 50.000€ I will be paying on the first band which means a max of 90€, I guess per year.

Plus the 0.18% of 50.000 which is another 90€.

So am I right saying that I will be paying 180€ per year.

The property tax is only on the cottage. The site around the cottage may make it more valuable but only an acre (which is a big site) is counted. So you only value the cottage and up to an acre of lawns sheds etc and pay based on that. The 5 acres if effectively a field for farming is not liable regardless of value.

Good loser

buccaneer89 wrote: »

Ok. I took a look and saw that depending on the band and reduction you will pay one amount or another.

But on the example of 50.000€ I will be paying on the first band which means a max of 90€, I guess per year.

Plus the 0.18% of 50.000 which is another 90€.

So am I right saying that I will be paying 180€ per year.

No - you are liable only for the one €90.

buccaneer89

Then you only pay for building in the property and farming land has no taxes. Is that correct?

J.O. Farmer

buccaneer89 wrote: »

Then you only pay for building in the property and farming land has no taxes. Is that correct?

The property tax is on residential houses including holiday homes. The value of the property may be influenced by surrounding lawns etc. For commercial buildings business rates may apply but farmland and associated farm buildings excluding the farmhouse are not liable for any property tax.

Nekarsulm

You pay only on the dwelling house. Sheds and farm land not taxed. ( Unless Gerry and MaryLou get voted in!)

_Brian

Nekarsulm wrote: »

You pay only on the dwelling house. Sheds and farm land not taxed. ( Unless Gerry and MaryLou get voted in!)

Which is very unfair when you consider the fertilizer and storage they have availed off on farms down the years..

Nekarsulm

Yes, but they can put their hand on their heart, and truthfully say that no fertilizer was bought in the South!