Individual property tax to be paid based on cadastral value of the property
21/12/2017 12:17
Individual property tax to be paid based on cadastral value of the property
21/12/2017 12:17
Tashkent, Uzbekistan (UzDaily.com) -- The individual property tax will be accrued based on the cadastral value of the property instead of the inventory starting from 2018, Deputy Prime Minister, Finance Minister Jamshid Kuchkarov said this during a session of the Senate of the Oliy Majlis.
According to him, as a result, payments for individual property tax will grow by 20-25%. At the same time, the tax rate will decrease from 1.7% to 0.2%.
He said that new procedure will allow to calculate individual tax payment based on price, close to the market price.
Kuchkarov said that the inventory cost of a three-room apartment is now 11 million soums, and the cadastral value is estimated at 113 million soums.
He added that in 2017 the property tax for this apartment was 190,000 soums. In 2018, payment will be 227,000 soums. The growth will be 37,000 soums or 20%, Kuchkarov noted.
He added that the tax rate will vary from region to region depending on the level of their development. For example, the tax on a property in Khorezm region will be on average twice lower compared to Tashkent city.
$ 1 | 12727.96 | +0.134% |
1 | 13781.84 | +0.459% |
₽ 1 | 139.46 | +0.288% |