Information about Luxury Real Estate Tax

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Information about Luxury Real Estate Tax

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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?

Diplomatic residences

Real estate owned by people who have no income or only receive a pension

Commercial properties for building construction workers

Cheap property in turkey

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


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