Purchase site with FPP but not to build...stamp duty?

[Squonk]

Hello....there is a site immediately adjacent to my house that I am considering buying. The site has FPP.

I am considering the option of just leaving the site as is, and not building a house. Essentially I want to keep my options open. If so, do I pay 2% stamp duty on the site value (non-residential rate), or do I pay 1% on the value of the site + build (residential rate)? If the latter, who provides an 'official' build price? Also, if I go with the latter, and I don't build within 5 years and planning lapses, do I get a refund (assuming 1% rate on site + house > 2% on site)?

Thank you

 

[mf1]

Stamp duty is 2 %

See extract from Revenue site below

mf1



"Purchase of a site
Where an individual purchases a site with no connected agreement to build a house or apartment, the transfer of the site is chargeable at the appropriate rate for non-residential property.

Example 5
Site
Consideration : €50,000
Stamp duty payable: €1,000
[€50,000 @ 2%]

Where an individual purchases a site in connection with, or as part of, an arrangement to build a house or apartment on that site then stamp duty will be charged on the aggregate amount of the site cost and the building cost at the appropriate residential property rate.



Example 6
Site with connected building agreement for a house or apartment
Site cost €50,000
Building cost €165,000
Aggregate cost: €215,000
Stamp duty payable: €2150
[€215,000 @ 1%]