Valuing your property

Land may be within the scope of Residential Zoned Land Tax (RZLT) where the land is:

• zoned for residential use
• serviced on 1 January 2022 or in the course of 2022
• and
• identified on a 2025 revised map.

The first valuation date for RZLT is 1 February 2025.

Land may come within the scope of the tax after 1 January 2022. If so, a charge to tax will arise in the third year after the year it meets the relevant criteria.

You will need to value the relevant site on 1 February every three years following the first valuation.

Subject to certain exceptions, the relevant site valuation determines:

• the RZLT charge for the year in which the land was valued
• and
• each of the three years following the first valuation.

For further information pease see the "Valuation date" section of Tax and Duty Manual Guidance on the Residential Zoned Land Tax.

How to value your property

The Residential Zoned Land Tax (RZLT) is a self-assessed tax based on the market value of the relevant site on the valuation date.

You as the owner of the relevant site are responsible for determining the market value of your land.

If you are the liable person (usually the landowner) you need to:

• determine the market value of the relevant site on the valuation date
• and
• declare that market value in your RZLT return.

For further information pease see the "Valuing a relevant site" section of Tax and Duty Manual Guidance on the Residential Zoned Land Tax.

Surcharge for undervaluation

A surcharge may apply If you undervalue a relevant site on your RZLT return.

The surcharge applies when the relevant site is undervalued by at least 33% relative to its market value.

The rate of the surcharge will depend on the amount by which the relevant site was undervalued in the RZLT return.

If Revenue imposes a surcharge, the liable person will be notified in writing of the amount of the surcharge.

For further information pease see the "Surcharge for undervaluation of a relevant site" section of Tax and Duty Manual Guidance on the Residential Zoned Land Tax.

Appeal of a surcharge

You can appeal the application and the amount of a surcharge to the Tax Appeals Commission (TAC). The appeal should be on the basis that there were rational reasons for your undervaluation of the relevant site.

For further information pease see the "Appeal of a surcharge" section of Tax and Duty Manual Guidance on the Residential Zoned Land Tax.