Analytics, Latvia, Real Estate
International Internet Magazine. Baltic States news & analytics
Friday, 26.04.2024, 06:25
The apartments of more than 50 square meters and private homes of more than 100 square meters in area could be taxed
Print version |
|---|
The owners of smaller apartments and private homes would be exempt from property tax, according to the Ministry's for Finances proposal, said Dombrovskis.
Local governments will have the right to grant up to 90% tax breaks, he added.
Gatis Kalnins, the Director of the State Land Service's Property Assessment Board, said in the interview to the newspaper Dienas Bizness supplement "Saldo" that, according to the Land Service's estimates, the tax rate will have to be set at 0.3% to 0.8% of the property's cadastral value, so that revenue from property tax is not less than LVL 140 million altogether.
At the moment the tax rate is 1%.
Kalnins also said that the owners of large houses located in, for instance, Jurmala will have to pay a larger tax. Whereas those who owe a house in the country, where properties' cadastral value is lower, could have to pay approximately LVL 20 a year, he said.
«The Baltic Course» Is Sold and Stays in Business!
