New Real Estate Tax Rates Amended
Before purchasing a property, it is very important to have accurate information about real estate taxes. Taxes not paid on time put individuals in difficult situations later on. Along with all of this, paying taxes on time and regularly is a civic duty. The real estate tax rates are 0.1% for properties used as residences and 0.2% for buildings used for other purposes. In areas included within the boundaries of Metropolitan Municipalities, these rates increase by 100%. A tax rate of 0.1% is applied to land, and 0.2% to plots. The first installment of real estate tax payments should be paid in March, April, and May. The second installments can be paid within November.
How Many Years Apart is Real Estate Tax Paid?
The declaration that must be submitted for real estate tax should be submitted every 4 years. When a property is purchased, the buyer has until the end of the year they receive the title deed to submit a declaration. The buyer's responsibility to pay taxes on the property they purchased begins the year after they receive the title deed. The most important issue to pay attention to is the tax debt status of the purchased property. This is because both the seller and the buyer are jointly responsible for the past tax debts of a property.
