Stamp Duty on Property: Who Qualifies and What You Get
Learn how stamp duty works in Ireland, including how much you pay when purchasing a home and what you need to know about potential exemptions.
Stamp Duty on Property is a tax paid when you purchase a residential property. This payment ensures the legal transfer of ownership from the seller to you.
Who it's for
This scheme applies to anyone purchasing residential property.
What you get
Paying this tax facilitates the legal transfer of property ownership into your name.
What it costs you
The cost is calculated based on the price of the property. You pay 1% on the first €1m of the value, and 2% on any amount remaining above that. This is typically handled and paid through your solicitor during the buying process.
The catch to know
First-time buyers might be exempt from certain parts of these charges, but whether you qualify depends specifically on the type of property you are buying.
How to apply
- Work with a solicitor to handle your property purchase.
- Your solicitor will calculate the exact amount due based on your purchase price.
- Your solicitor will manage the payment to the revenue authorities.
- You can find more details at https://www.revenue.ie