In the case of second-hand residential property, the rates of stamp duty are:
Consideration
|
First-time owner-occupiers
|
Others
|
|
%
|
%
|
Up to €127,000
|
0
|
0
|
From €127,001 to €195,500
|
0
|
3
|
From €195,501 to €254,000
|
0
|
4
|
From €254,001 to €317,500
|
0
|
5
|
From €317,501 to €381,000
|
3
|
6
|
From €381,001 to €635,000
|
6
|
7.5
|
Over €635,000
|
9
|
9
|
All owner occupiers can purchase a new home between 38sq. m and 125sq. m, where a Floor Area Compliance Certificate has been obtained, without a liability to stamp duty. Where a new house is over 125sq. m, stamp duty is charged on either the value of the site or 25% of the value of the property, whichever is the greater, using the rates listed above.
In the case of a non-owner occupier of a new home, stamp duty is charged at the rates applying to non-first-time buyers of second-hand residential property, ("Others" — listed above).
I am informed by the Revenue Commissioners that the estimated cost of extending the current stamp duty exemption of €317,500 to all residential property is €244 million in a full year, based on the 2005 stamp duty yield. The cost of charging stamp duty only on the difference between €317,500 and the purchase price of residential property up to €500,000 for all first buyers and other purchasers is estimated at €200 million in a full year, based on the 2005 stamp duty yield.