Irish Times Inside Business

In this episode, Cork-based developer Michael O’Flynn shares his views on the new Residential Zoned Land Tax (RZLT), which will come into effect in 2024, replacing the existing vacant site levy. The new tax aims to increase housing supply by encouraging developers to build on land owned, rather than hoarding it. While O’Flynn explains that he’s in favour of the concept, he doesn’t agree with the way it is being implemented and applied by local authorities. O’Flynn who owns 24 properties in Cork city and county, received an exemption for 12 of those sites, but must appeal the remaining dozen with An Bord Pleanála, or be faced with an annual bill of more than €2 million.Later on, Ciaran is joined by Environment editor Kevin O’Sullivan and President of Engineers Ireland (EI) John Power to discuss their latest electrical energy review and Ireland's future energy needs. Hosted on Acast. See acast.com/privacy for more information.