Recently imposed “Valuable House Tax” subjected to some changes. The final version of the Valuable House Tax after the changes is as follows:
- Households in Turkey whose tax value is more than ₺5.000.000 are subject to the Valuable House Tax. In the previous version, it was regulated that the values would be determined by the General Directorate of the Land Registry. Claims of ones who filed a lawsuit against General Directorate of the Land Registry regarding value of their house will be rejected.
- The Valuable House Tax is regulated as incremental taxation at the following rates:
|
House value |
Rate |
|
Between ₺5.000.000 and ₺7.500.000 |
0.3% for the part exceeding ₺5.000.000 |
|
Between ₺7.500.000 and ₺10.000.000 |
0.6% for the part exceeding ₺7.500.000 |
|
Exceeding ₺10.000.000 |
1 |
- The valuable house tax is declared annually and paid in two installments by the end of February and August in the relevant year.
- Some of certain households determined in the Law are exempt from valuable house taxes; households owned by those who own only one house and the lowest-valued house of those possessing more than one valuable houses.
- The valuable house tax enters into force as of 2021
- According to the Code of Property Tax, taxpayers can file a lawsuit against government over the tax value determined by the commissions, as well as a lawsuit to ask for cancellation of administrative action against government over the accrued tax.
