At the General Assembly of the Grand National Assembly of Turkey, 5 new articles were added to the Bill on Geographical Information Systems and Amendments to Certain Laws, which also includes amendments to the Zoning Law.
According to the accepted articles, residential immovables with a value of up to 5 million liras will not be subject to the “valuable housing tax”. The practice of determining the value by the General Directorate of Land Registry and Cadastre will be terminated, and the building tax value determined according to the Real Estate Tax Law will be taken as basis.
Of the residential immovable properties owned by the TOKİ Presidency, the lowest-valued immovable property will be exempt from valuable housing tax for those with a single dwelling and those with more than one valuable residential property.
For houses worth between 5 million liras and 7.5 million liras, 3 per thousand for the part exceeding 5 million liras; for houses worth between 7.5 million liras and 10 million liras, 6 per thousand for the part exceeding 7 million liras; for houses worth more than 10 million liras, 22 thousand 500 liras will be taxed for 10 million liras and 10 per thousand for more.
In shared ownership and joint ownership, the total value of the residential real estate will be taken as the basis for the calculation of the base.
The liability for the valuable housing tax will be valid from the beginning of 2020. Regarding 2020, the declaration required to be submitted in 2020 will not be submitted and no tax will be accrued. The President will be authorized to extend the periods in this provision for up to 1 year.
The liability for the valuable housing tax will start from the beginning of 2021. In the implementation of the valuable housing tax, the values determined by the General Directorate of Land Registry and Cadastre before the enactment of the Law Proposal on Geographical Information Systems and Amendments to Certain Laws will not be taken into account.
In addition, Article 43 of the Real Estate Tax Law, which includes provisions regarding the valuable housing tax, has been repealed.
According to another article, buildings for which a demolition decision was taken before the law entered into force, but which were not demolished by the relevant local authorities, will be demolished by the Ministry of Environment and Urbanization after the law enters into force.
Source: https://www.aa.com.tr/tr/turkiye/imar-kanununda-degisiklik-teklifine-5-yeni-madde-ihdas-edildi/1731208
