Real estate tax rate to remain unchanged next year
Real estate tax rate, 1.5 percent, will remain unchanged next year.
Real estate tax rate, 1.5 percent, will remain unchanged next year.
The tax on buildings will be calculated in accordance with the building's balance or inventory value, but tax on land - in accordance with the land plot's cadastral value. Such a procedure will remain in force until January 1, 2007.
Properties that were to be applied the tax as of next year but will still remain exempted from the tax include apartment houses, agricultural facilities, state budgetary institutions, as well as educational, medical, cultural and sports establishments.
Initially, transitional regulations of the law "On Real Estate Tax" stipulated that the tax would be cut to 1 percent next year. This will not be done, however, as residents protested that the tax would also be applied to apartment buildings.
The tax on buildings will be calculated in accordance with the building's balance or inventory value, but tax on land - in accordance with the land plot's cadastral value. Such a procedure will remain in force until January 1, 2007.
Properties that were to be applied the tax as of next year but will still remain exempted from the tax include apartment houses, agricultural facilities, state budgetary institutions, as well as educational, medical, cultural and sports establishments.
Initially, transitional regulations of the law "On Real Estate Tax" stipulated that the tax would be cut to 1 percent next year. This will not be done, however, as residents protested that the tax would also be applied to apartment buildings.