City tax break idea floated for house refurbishment in Laois

A tax break for refurbishing or converting houses or commercial properties in cities  that is ending in 2022 should be trialled outside the big six urban areas starting in Laois because building targets are not being met, according to a Fine Gael councillor.

Cllr Aisling Moran made the call on her party colleagues in Government because she says private development is 'failing'.

The councillor is tabling a motion at the December meeting of Laois County Council calling for the the Living City Initiative, which has been in operation since 2015, to be extended beyond Cork, Dublin, Galway, Kilkenny, Limerick, Waterford.

The Revenue Commissioners say the tax incentive scheme for Special Regeneration Areas allows people to can claim tax relief on money spent on refurbishing or converting residential or commercial properties.

Cllr Moran's says the target for private housing delivery in Laois for 2022 of 566 will not be met. Due to what she says is 'this failing" and in light of the cost of living crisis she wants the scheme extended. While the scheme is due to cease at the end of 2022, Cllr Moran believes it should be extend.

"I am asking that the Ministers for Finance and Housing extend the Living City Initiative of €200k tax credits to be applied as a pilot to all Laois towns and villages, roll out in Q1 2023," her motion states.

Revenue say there are three types of relief available under the scheme

• Owner-Occupier Residential Relief.
• Rented Residential (landlord) Relief.
• Commercial Relief.

Revenue says there are different conditions for claiming relief, depending on whether you refurbish or convert a property for residential or commercial use.

The scheme runs from May 2015 for Owner-Occupier Residential Relief and Commercial Relief, and from 1 January 2017 for Rented Residential Relief.

The scheme will end for all reliefs on 31 December 2022. Only refurbishment and conversion work that is carried out during this time will qualify for relief.

The motion is due to be debated in County Hall Portlaoise on Monday, December 12.