The real estate tax will increase by 60 in 2023%

The real estate tax will increase by 60 in 2023%

In January, the property tax is expected to increase by 61.46% for those who own residential real estate, land and jobs. The final amount is determined taking into account the estimated value of the property. 

 

There is little news, but there are exceptions: property tax may not be paid by those whose income is exclusively a pension received from social security institutions (that is, veterans, disabled people, widows, urban orphans, etc.). Provided that they own the only housing with a total area of no more than 200 square meters. In such cases, the annual tax rate is 0%. 

 

The rest are obliged to pay the tax; you can transfer the money directly to the municipality to which the real estate «belongs», or through bank branches in which municipalities have their accounts.

 

Approximate calculation of real estate tax: let's say the cost of housing is 500,000 Turkish lira. For such property, 1,775 Turkish liras will have to be paid to the treasury.

 

Well, the owners of empty real estate in Istanbul are waiting for increased payments.

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