Reminder About Valuable Housing Tax
According to the new figures, which are valid as of January 1, 2022, the first instalment of the valuable housing tax must be paid by the end of February 2022, and the second instalment by the end of August 2022 for those with a building tax value (the current market value) of more than 6 million 173 thousand liras in residential properties. Valuable housing tax; the house owner will pay the usufruct (usage) right owner in the usufruct houses. The real estate tax value of the home will be inquired from the municipality where the house is located. Those who own the house in shared ownership will be considered taxpayers in proportion to their shares.
The valuable Housing Tax valuation rate increased by 18.10% in 2022
In 2019, a particular tax payment decision was made for places with a value over 5,000,000 TL. According to the first taxation method, the tax figures, determined gradually for 5 million TL and above, were rearranged for houses starting from 5 million 227 thousand TL in 2021. In the Real Estate Tax Law Communiqué prepared by the Ministry of Treasury and Finance Revenue Administration, Valuable Housing Tax was increased by 18.10%, half of the revaluation rate. Accordingly, those with a building tax value of more than 6 million 173 thousand liras among residential properties will be subject to the valuable housing tax.
The lower and upper limits of the residential real estate subject to the valuable housing tax to be applied in 2022 will be applied as follows:
* Between 6.173.000 and 9.260.000 TL For the portion exceeding 6.173.000 TL: 3 per thousand
* For those up to 12,347,000 TL, 9,261 TL for 9,260,000 TL, for more: 6 per thousand
* For those with more than 12,347,000 TL, 27,783 TL for 12,347,000 TL, for more: 10 per thousand
The 'Municipal market value' will be used to determine the Valuable Housing Tax.
While it was stated that the house’s appraisal value would be considered when the law was first enacted, the current municipal value is now based on the amendment made. Accordingly, since the municipal market value will be taken as the basis for the valuable housing tax, many luxury housing properties will not be included in the scope of taxation.
Those who have only one residence are exempt from Valuable Housing Tax…
According to the Real Estate Tax Law Communiqué prepared by the Revenue Administration of the Ministry of Treasury and Finance; Regardless of income status, those who own a single residential property within the borders of Turkey, those who have more than one residential property within the scope of the law, and the residential properties of the Housing Development Administration will be exempt from the valuable housing tax.
