Dáil Éireann - Volume 637 - 26 June, 2007

Written Answers. - Tax Code.

Deputy John Deasy asked the Tánaiste and Minister for Finance the number of dutiable housing transfers which underpin the estimates for stamp duty receipts; the number in different duty rates; the aggregate value at each rate; the returns to date in 2007; and where there is a shortfall below expectation. [17290/07]

  Deputy Brian Cowen: Stamp Duty from residential property in 2006, the latest full year for which details are available, made up approximately 35 per cent of the total Stamp Duty yield in that year. While my Department does not base its forecasts of Stamp Duty yield for the residential property sector on the number of transactions at the different rates of duty, a breakdown of the 52,901 such transactions in 2006 has been provided by the Revenue Commissioners.

This information, based on the consideration value upon which the stamp duty was payable, is as follows:

Where the consideration value was between €127,000 and €190,500 there were 10,877 transactions, yielding €52.9 million.

For consideration values between €190,501 and €254,000 there were 11,088 transactions, yielding a total of €98.2 million.

For consideration values between €254,001 to €317,500 there were 8,007 transactions, yielding €114 million,

[234] For consideration values between €317,501 and €381,000 there were 8,600 stamp duty transactions, yielding €153.4 million.

For consideration values between €381,001 and €635,000 there were 9,833 transactions, yielding €339.2 million.

Finally, in the highest consideration value band, for properties valued at over €635,000 there were 4,496 transactions giving a yield of over €543.1 million.

Up to the end of May the Exchequer received €1,438m in stamp duty, which is just €16 million, or 1.1 per cent below profile. This includes Stamp Duty receipts from all headings, including shares, commercial transactions and property. The end-May figure represents an increase of 11 per cent on the same period last year, compared with a Budget day predicted increase of 5.6 per cent for the year as a whole.

Question No. 83 answered orally.