Residential Stamp Duty and what it means to you?

Posted on: 01/02/2015 in 'Stamp Duty'
Stamp Duty is a tax that is levied on documents; in Ireland we pay stamp duty on a number of items including credit cards, ATM cards, debit cards, cheques and most importantly on property transfers.

Stamp duty is payable to the Revenue Commissioners on all property transactions whether the property is new or old.

The current rates for residential property are as follows:

Property Value Rate
€0 - €1,000,000.00 1%
Balance over €1,000,000.00  2%

It is advisable that you factor in the stamp duty before you agree a price on a property. Your solicitor will calculate the total amount payable and this amount is paid prior to completion of sale.