Transcarpathians will be paying real estate tax at the rates of 2014

On December 28, the Parliament approved amendments to the Tax Code, which provide for the taxation of apartments in area over 60 square meters and houses in area over 120 square meters.

The tax base of real estate tax is the total area. The upper limit of the tax rate is 2% of the minimum wage, or 24 UAH. However, its rate shall be set by local governments. The area that exceeds the limit shall be taxed. For example, if the apartment is 65 square meters, the tax shall be paid only for 5 square meters, and the funds from this tax shall be paid to local budgets.

Please note that the calculation of the tax amount for individuals in 2015 will take place according to rules and rates that were in effect in 2014. The tax shall be paid by not all individuals, but only those who own an apartment / apartments with total area of ​​more than 120 and s house / houses with total area of more than 250 square meters, various types of property with total area exceeding 370 square meters.

Tax rates shall be set by local governments in the following amounts per 1 square meter of the total area of ​​residential property: for apartments with total area not exceeding 240 square meters and houses with total area not exceeding 500 square meters, the tax rate can not exceed 1% of the minimum wage established by law as of January 1 of the reporting (tax) year; for apartments with total area exceeding 240 square meters and houses with total area exceeding 500 square meters, the tax rate is 2.7% of the minimum wage established by law as of January 1 of the reporting (tax) year.