Tax on second homes raises €58m

The tax on second homes has raised almost €58 million, exceeding expectations, it was reported today.

The tax on second homes has raised almost €58 million, exceeding expectations, it was reported today.

The €200 annual charge on non principal private residences was expected to yield about €40 million in the first year. Figures seen by The Irish Times in December showed the tax take has raised €51.7 million.

According to RTÉ Radio's Morning Ireland, some 285,000 homes have made payments around the country to date.

The fee, which goes to local authorities, applies to people who own a property that is not their sole or main residence.

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It is believed that compliance currently stands at around 70 per cent, which leaves more money for the local authorities to collect.

Payment for 2009 was due by the end of September; the deadline was then extended by a month before the introduction of penalties at €20 a month.

The 2010 charge will have to be met before June 30th.