Stamp duty is a Government tax payable when you buy a property and is based on the value of the property. The money paid to the Government is to ensure that your deeds are stamped, without it your deeds can't be registered. The rates of duty applicable for residential property (whether new or second-hand) are as follows:
Rates of duty for deeds executed on or after 8 December 2010
Aggregate Consideration
|
Rate of Duty |
First €1,000,000 |
1% |
Excess over €1,000,000 |
2% |
Example 1:
Consideration = €350,000
Rate Breakdown - €350,000 @ 1%
Total Duty Payable = €3,500
Example 2:
Consideration = €1,850,000
Rate Breakdown - €1,000,000 @ 1%, €850,000 @ 2%
Total Duty Payable = €27,000
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Non-residential property, i.e. Land, Sites & Commercial Property
(for instruments executed on or after 7 December 2011)
Aggregate Consideration |
Rate of Duty |
Flat rate on entire consideration |
2% |
|
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