The high level of inflation recorded this year will directly affect the adjustment of the tax rate. Which will lead to a noticeable increase in the real estate tax in 2023.
Tax specialist Ozan Bingel, based on his own calculations, suggested that from January 1, 2023, taxes and fees payable by citizens will almost certainly increase by more than 100%. According to Emlak365 with reference to expert forecasts, even if inflation is zero in October, taxes and fees may increase by 121%.
But only in September, the growth of the consumer price index (CPI) was recorded at the level of 83.45% for the year and 3.08% for the month.
Ozan Bingel announced the amounts of some mandatory fees: if we rely on a more or less real (according to mid-autumn data) revaluation coefficient of 121%, then the penalty for speeding will increase from 427 to 944 TL; for vehicle inspection - from 507 to 1121 TL. For real estate, homeowners can recalculate the amount themselves, according to the value of their property, if we take into account that every 1,000 TL of tax in 2022 will turn into 2210 TL in 2023.
The revaluation rate is a system that has been used in Turkey since 1984; this year its highest provider was recorded.
Only the president has the right to reduce the property tax in case the revaluation rate is too high. So, if Recep Tayyip Erdogan uses his powers, then perhaps the tax increase will not exceed 50%.
However, this issue is entirely under the jurisdiction of the head of state: the legislation does not provide for the «automatic» application of a discount with an increase in property tax.
Tariffs in Turkey, due to the high level of inflation, are rising for almost everything; residents of Sita have been protesting for a long time about the aydat, which in some places equaled the amount of rent a few years earlier.