Taxes Consolidation Act 1997 section 653R

Amount of residential zoned land tax

Section 653R sets out the valuation dates for residential zoned land tax (RZLT) and the formula for calculating the annual tax charge.

• The site is first valued on 1 February in the year RZLT first applies; it is revalued on 1 February every three years thereafter
• RZLT is calculated by multiplying the market value of the site on the valuation date by 3%
• The valuation established on a valuation date applies for that year and each of the following two years in the three-year cycle
• RZLT is a self-assessed tax, meaning the liable person is responsible for determining and declaring the market value of the site