Stamp Duty
What is Stamp Duty?
Stamp duty is the tax payable to the government for changing the documents that specify who owns a particular property.
How much Stamp Duty will I have to pay?
Stamp duty is based on the type and cost of a property. A property is either a residential property, or a site.
How much Stamp Duty applies to a residential property?
Any amounts paid under the cut off of one million euro are taxed at 1%, amounts paid above this are taxed at 2%.
| Property Value | Rate |
|---|---|
| Amounts up to €1,000,000 | 1% |
| Amounts over €1,000,000 | 2% |
Stamp Duty on Land and Sites
| Property Value | Rate |
|---|---|
| Up to €10,000 | 0% |
| €10,001 - €20,000 | 1% |
| €20,001 - €30,000 | 2% |
| €30,001 - €40,000 | 3% |
| €40,001 - €70,000 | 4% |
| €70,001 - €80,000 | 5% |
| Over €80,000 | 6% |
When is Stamp Duty payable?
When closing the sale, your solicitor will calculate the exact stamp duty due and you will be required to pay this amount to the Revenue Commissioners. Your solicitor will usually arrange this payment.
Transitional Arrangements
If you have entered into a contract before 8 December 2010 and complete the purchase before 1 July 2011, your stamp duty will be calculated at the lower applicable rate, between the new and the old system.
Talk To Our Experts
Our Experts are always on hand to help you with either buying or selling a property. Give them a call now to talk through what you are looking for and ask them any questions you have.
Director
Michael is a Qualified Financial Advisor and has 16 years experience working in the property and mortgage business.
Email: michaeldowney@abetterchoice.ie
Call: 021 4905000
Property Advisor
Garry believes in providing honest feedback to clients and giving good sound advice.
Email: garryodonnell@abetterchoice.ie
Call: 021 4905000
ERA Downey McCarthy has won the prize for the top performing ERA broker out of 65 offices nationwide.
Frank Doonan CEO ERA Ireland is pictured presenting the award to Michael Downey and Sean McCarthy. "This is a fantastic achievement for Michael and Sean and all the team at ERA Downey McCarthy. To win this prestigious award six years in a row is a tribute to the hard work, dedication and quality service that all at ERA Downey McCarthy provide to their clients" said Frank. 
