What will the property tax amount be in 2021? Will everyone pay regardless of the size of the property?

What will the property tax amount be in 2021? Will everyone pay regardless of the size of the property?

Only owners of large “square meters” pay real estate tax. It is likely that this rule will apply to all property owners. If MPs support the new bill, then everyone will pay for housing, regardless of the size of the property.

How is property tax paid now?

Not all Ukrainians pay real estate tax now. This applies only to those who have “extra square meters.” How to understand which living space is extra and which is not? Real estate tax is paid in the following cases:

1. If a private house has an area of ​​more than 120 square meters

2. If the apartment has a total area of ​​more than 60 sq

3. If the total area of an apartment and a house of one owner exceeds 180 square meters

What will be the tax in 2021?

No more than one and a half percent of the minimum wage is paid for each extra meter according to the current legislation. The size of this rate is approved by the local authorities. But this figure cannot exceed 1.5%.

Homeowners will be paying for last year in 2021. The tax will take into account the minimum wage that was on January 1, 2020.

What could be the new property tax?

The essence of the legislative initiative is real estate tax is not tied to footage, but to the economically justified value of real estate. Local councils will retain the right to determine the tax rate, but it cannot exceed 0.2% of the assessed value. This means that with a housing cost of one million people will pay a maximum of 2 thousand hryvnia per year.

It is proposed to tax the unfinished building. We are talking about those houses that have not yet been commissioned, but it is already possible to live in them. They are offered a maximum rate of 0.3% . So that the owners cannot manipulate the amount of taxes. It is also proposed to abolish benefits for hostels, buildings of public organizations and other social facilities.

Instead, war veterans and retirees will be able to avoid paying such a tax. Their housing must meet certain standards.

The bill proposes to conduct a massive real estate appraisal every 5 years. If this is a new building, then the estimated value will be calculated from the moment the property is acquired. Discussions of this bill are ongoing. If it is passed, then from 2021 people will start paying according to the new rules.

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