Vacant Site Levy: Legislation Update, October 2018

Author:Ms Danielle Conaghan, Deidre Sheehan, Jacinta Conway and Dearbhla Considine
Profession:Arthur Cox
 
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Our July 2018 briefing set out some key points for consideration by property owners on receipt of a vacant site notice from a planning authority. Recent planning legislation and an order made under the Urban Regeneration andHousing Act 2015 have introduced significant amendments to the vacant site levy.

EXTENSION OF NOTIFICATION DEADLINE

Previously, planning authorities were obliged to notify vacant site owners by 1 June 2018 that their sites stood entered on the vacant sites register. The UrbanRegeneration and Housing Act 2015 (Section 11) Order 2018 has extended this deadline to 1 November 2018.

This essentially means that planning authorities have been granted additional time to notify site owners that the levy will be charged for each year from 2018.

REMOVAL OF DISCOUNT/EXEMPTION FOR SITES IN DEBT OR NEGATIVE EQUITY

The Planning and Development (Amendment) Act 2018 has removed the discount/exemption previously applicable to vacant sites with outstanding loans of greater than 50% of market value. A flat 3% levy will now apply across all vacant sites from 1 January 2019.

REMOVAL OF...

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