Stamp duty is one of the key additional expenses when buying a home so it’s important to understand how it works and to take into account when planning your finances.
This page has been updated to reflect the changes made in the 2012 Budget. These changes reduced the rate on non-residential properties from 6% to 2%.
- What is Stamp Duty?
- How much Stamp Duty will I have to pay?
- How much Stamp Duty applies to a residential property?
- Stamp Duty on Non-residential property
- When is Stamp Duty payable ?
- Further information about 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 non-residential property.
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 Vaue | Rate of Duty |
| Amounts up to €1,000,000 |
1% |
| Amounts over €1,000,000 |
2% |
Stamp Duty on Non-residential property
| Property Vaue | Rate of Duty |
| All Amounts |
2% |
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.
Further Information about Stamp Duty
For further information about stamp duty including exemptions and full explanations of all rules please consult http://www.citizensinformation.ie and the Revenue Commissioners website www.revenue.ie