Real Estate Tax Value Is Really Far Away

Altin Emlak General Manager Mustafa Hakan Ozelmachikli said that when determining the value of the land tax, determined every 4 years, the figures are far from the real market value.

A is a tax levied on owners for land and buildings. This tax collected by municipalities, the deadline for payment of which is May 31, 2017. Altin Emlak Director General Mustafa Hakan Ozelmachikli, who in a statement on this issue, noted that "the tax base of the property tax is the tax value of land and buildings, that is, their real value. In 2017, the tax amounts will be the amounts that should be received by increasing the tax value of 2016 by 3.83 percent (three quarters), which is the coefficient of revaluation for this year. 

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He said that 2017 will be the year of increasing the cost per square meter of residential real estate and land. “Evaluation committees meet every four years to determine land and real estate values. In the coming year, property tax will be assessed with more than one hundred percent difference in some areas. The property tax affects many areas, ranging from inheritance taxes to VAT rates for the purchase of housing. So, it is so important to calculate the tax correctly”.

General Manager Altin Emlak stated that after the change of real estate or the construction of a new building after the city transformation, notice of a change in the style of use, as well as the heritage of the building should be notified before the end of this year. Notifications must be made within 3 months.

 

 

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    yasemin Written by:

    Yasemin Kılıç yaseminkilic@istanbulinvestments.com

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