Uzbekistan sets new property tax rates for individuals

New rate of the tax was set in line with resolution of the President of Uzbekistan “On forecast of main macroeconomic figures and parameters of State Budget of Uzbekistan for 2017”.

The rate of property tax for individuals rose from 1.5% from inventory cost of the property to 1.7%, excluding property located in cities with total area of over 200 square meters, cottages, garages, other buildings, premises and establishments.

The rate of tax for houses and flats, located in cities, with total area of over 200 and up to 500 square meters, grew from 1.8% to 2.1% and over 500 square meters – from 2.5% to 2.9%.

The rate for other settlements with total area of over 200 square meters will make up 2.1% (earlier 1.5%).

If there is no inventory cost of the object, the cost set at the size of 20.328 million soums for Tashkent city and regional centers. For other cities and rural areas, the cost is set at 8.833 million soums.