Real Estate Taxes
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Many Turkish real estate owners do not know that property taxes associated with their properties must be paid to the Tax Department. Some are paid once, while others are paid annually.
Our services in Real Estate Taxes
Our team will assist you in periodically paying taxes without any delay. We will also help you in all of the procedures starting from registering with the municipality, which became more difficult after the implementing measures against the Coronavirus, to following up on annual taxes.
What are property taxes in Turkey?
Property taxes are amounts calculated in predetermined rates paid to the state (represented by the state tax department) either once or annually.
One-time payment property taxes:
This tax is paid when purchasing a property in Turkey, is due when the ownership of a property changes, and is paid upon registering the title deed.
It equals approximately 4% of what the declared value was for the property and what was agreed upon between the seller and buyer. It is paid by both parties equally as specified by law; however, in most cases and according to Turkish customs, the buyer is responsible for paying the full value of this tax. The buyer needs to know this and include it when negotiating the price.
The tax value is calculated from the market price of the property, ranging from 1% to 18%, and is calculated from the net area of the property. It is paid once upon purchase.
The type of property, its area, the level of construction, and the price per square meter of the land that the property is built on are among the factors that affect the amount of added tax value.
It is divided into three types of properties:
- Commercial value has an added tax value of 18%
- Residential property with a net area greater than 150 sqm has added tax value is 18%
- Residential property with a net area of less than 150 sqm has added tax value of 1% to 18%