Development firm wants to build 150 houses in Leitrim and will 'fully cover Residential Zoned Land Tax'
Company wants to talk with landowners looking to sell or explore partnership opportunities that will lead to "the rapid development of much-needed housing"
A property development firm is seeking residentially zoned in Leitrim to deliver 150 homes and wants to talk with landowners looking to sell or explore partnership opportunities that will lead to "the rapid development of much-needed housing", it was announced this week.
Fitzpatrick & Heavey Homes has reaffirmed its commitment to landowners by pledging to fully cover the Residential Zoned Land Tax (RZLT) on any residentially zoned land it purchases.
The RZLT, in effect since February 1, imposes an annual tax of 3% on the market value of undeveloped, residentially-zoned land.
Current and upcoming developments include 147 homes in Tullamore, 75 homes in Birr, Offaly, 89 homes in Wicklow and 150 homes for delivery in Cavan.
Ciaran Fitzpatrick, CEO of Fitzpatrick & Heavey Homes, highlighted the company’s ongoing efforts to accelerate housing delivery. The firm currently has 500 homes under construction across Offaly, Westmeath, Wicklow, Cork and Cavan.
“Ireland’s housing crisis demands innovative and immediate solutions,” said Fitzpatrick. “The Residential Zoned Land Tax is intended to encourage development, but it also places a financial strain on landowners who may not have the means to build. By absorbing this tax on any land we purchase, we are providing an immediate solution—offering landowners a viable exit while ensuring much-needed housing is developed without delay.”
The RZLT, introduced under the Finance Acts, imposes an annual tax of 3% on the market value of undeveloped, residentially zoned land. This could mean substantial costs for landowners, particularly those who are unable to proceed with development.
Those affected by the RZLT include landowners, including individuals, businesses, and entities with residentially zoned but undeveloped land.
“This is a win-win solution,” Fitzpatrick added. “Landowners can avoid the financial strain of the tax, while we ensure that land is put to productive use—building homes for families and communities across Ireland. We encourage landowners to reach out to us as soon as possible to explore opportunities.”
For further information on Fitzpatrick & Heavey Homes see Home | Fitzpatrick & Heavey Homes.
To discuss potential land sales, please contact Ciaran Fitzpatrick - [email protected]