19.02.2024/18
Valuable Housing Tax Declaration to be submitted until February 20
The tariff to be applied in 2024 for the valuable housing tax introduced by Law No. 7194 has been determined by the General Communiqué on Real Estate Tax Law No. 84 and the declaration must be submitted by the end of Tuesday, February 20.
2024 Valuable Housing Tax Tariff
In 2024, the valuable residence tax tariff starts at 12.880.000.-TL. Therefore, owners / usufructuaries / savers of residential real estate whose property tax value for 2024 exceeds 12.880.000.-TL and who meet the conditions specified in the law are obliged to pay this tax.
However, no declaration will be submitted for immovables with a property tax value below 9.967.000,00.-TL in 2023 and for residences with a property tax value exceeding 9.967.000,00.-TL in 2023 but not exceeding 12.880.000,00.-TL in 2024. For this reason, the property tax value of 2023 is important in order to be subject to the valuable residence tax.
In 2024, the lower and upper limits (base) of the residential immovable subject to the valuable residence tax to be applied are determined as follows:
| Those between 12,880,000 TL and 19,321,000 TL (inclusive), for the amount exceeding 12,880,000 TL | (Per Thousand 3) |
| Up to 25,763,000 TL (inclusive), for 19,321,000 TL, 19,323 TL, for the excess | (Per Thousand 6) |
| For those exceeding 25,763,000 TL, for 25,763,000 TL, 57,975 TL, for the excess | (Per Thousand 10) |
Dear Residential Taxpayers
The taxpayer of this tax is the owner of the residential immovable property, the usufructuary, if any, and if neither of them are present, the persons who dispose of the residential immovable property as if they were the owner.
The owners of the residential immovable property in the case of shared ownership are liable in proportion to their shares, while in the case of joint ownership, the owners are jointly and severally liable for the tax.
Valuable Housing Tax Declaration and Payment Periods
Taxpayers will be able to submit their declarations to the tax office until the end of the 20th day of February 2024 by attaching the document showing the building tax value (for the year in which the declaration is submitted and the previous year) from the municipality where the residential immovable is located.
The tax office where the declaration will be submitted is the tax office where the immovable is located. The tax office where the immovable is located refers to the current tax office in provinces and districts with a single tax office; in districts without an independent tax office, the affiliated tax office (property directorates); in provinces/districts with more than one tax office, the authorized tax office where the residential immovable is located. In case the immovables declared in the same declaration are located in the jurisdiction of different tax offices, the declaration can be submitted by the taxpayer to any of the authorized tax offices where these immovables are located.
Valuable Housing Tax Exemption
a. Residential immovable properties owned by general and special budget administrations, municipalities, universities and the Housing Development Administration,
b. For those who own a single residential property within the borders of Turkey and for those who own more than one residential property, the single residential property (including the usufruct right) with the lowest value subject to the valuable residence tax (This provision is also applied to the portion of the shares of the mentioned persons if they own a single residence with shares),
c. Residential immovables belonging to foreign states and used as embassies and consulates, residential immovables for the residence of ambassadors and their outbuildings (provided that they are reciprocal) and residential immovables belonging to international organizations headquartered in Turkey and representative offices of international organizations in Turkey,
ç. Newly constructed residential immovables (including residential immovables left to the contractor who undertakes the contracting work in accordance with the contract in construction works in return for land) registered to the enterprises of those whose main activity is building construction (except in cases where these immovables are rented or otherwise used)
exempt from valuable housing tax.
The relevant Communiqué is available here.
Sincerely,
BİLGENER
