The new tax reform package introduced a new 1% tax in addition to property tax on luxury properties.
As part of the new tax reform package, it is planned to introduce an additional tax of 1% for luxury properties that worth more than 5 million TL.
If the package in the draft law is not changed, a 1% tax in addition to property tax will be levied on properties worth more than 5 million TL.
The related law proposal will be submitted to the Parliament soon.
What is a Luxury Real Estate Tax?
Luxury real estate tax is a new tax that will be levied on very high-value properties.
When will the Luxury Real Estate Tax be collected?
The tax is due to be introduced in 2020, and it will be paid in two equal installments in February and August.
Which property does the Luxury Real Estate Tax cover?
The value of the luxury real estate tax will be collected from real estate worth more than 5 million TL.
What are tax-exempt properties?
Real estate owned by people who have no income or only receive a pension
Commercial properties for building construction workers
How many properties will pay taxes in each city?
Istanbul: 5736 real estate
Muğla: 512 real estate
İzmir: 318 real estate
Ankara: 126 real estate
Antalya: 82 real estate
Balıkesir: 29 real estate
Sakarya: 20 real estate
Kocaeli: 18 real estate
Aydın: 13 real estate
Adana: 4 real estate
Konya: 3 real estate
Mersin: 3 real estate
Eskişehir: 2 real estate
Manisa: 2 real estate
Hatay: 1 real estate
Kayseri: 1 real estate
Trabzon: 1 real estate
Edit By: Realty Group