There are 250,000 homes across the country vacant at present that are second or holiday homes, and they will remain vacant if the government does not address the punitive 33 percent capital gains tax on such investments.
That’s the strong view expressed by Independent Westport based councillor Christy Hyland.
He raised the matter at a special meeting of Mayo county council, on Friday last, to address the housing crisis in the county, and was supported in his view by elected councillors present.
He says, he personally knows of people who have stopped using their holiday homes in west Mayo and want to sell properties, but won’t do so while the 33 percent Capital Gains Tax on the sale remains in place.
Councillor Hyland has been telling Midwest News why this matter needs to be addressed to free up housing stock in the county...