Annual property tax in Turkey
It has become very easy for foreigners to own real estate of all kinds in Turkey. However, once you obtain a property in Turkey whether you are a nonnative or a Turkish national, you have to pay an annual tax. Therefore, in this article from Ebla Real Estate, we will talk about the annual property tax in Turkey.
Table of contents:
- What is the annual property tax in Turkey?
- When should you pay the annual real estate tax?
- Where should you pay the annual real estate tax?
- How to calculate the annual property tax?
- Who is exempt from real estate tax in Turkey?
- Consequences of delay payment of annual property tax:
What is the annual property tax in Turkey?
The annual tax (Emlak Vergisi) is the tax that property owners, whether Turkish or foreign, must pay annually in return for owning a property in a specific area in Turkey.
When should you pay the annual real estate tax?
It is paid in two installments, the first installment is paid between the dates 1 – 31 March, while the second installment is paid between the dates 1 – 31 October.
Where should you pay the annual real estate tax?
You can pay the annual property tax by going to the municipality to which the property belongs. Moreover, you can transfer the amount to the municipal bank account
How to calculate the annual property tax?
The property tax in Turkey varies depending on the type of property, but also on the city where it is located. Thus, a tax of 0.2% rate is imposed for ordinary properties such as apartments or buildings near large cities. Regarding the properties owned in big municipalities, the property tax rate is set at 0.4% per year. Residences in large cities are subject to a property tax in Turkey of 0.2% rate per year, while those in the surrounding area are taxed at a rate of 0.1%.
Commercial properties in Turkey are taxed at 0.4% rate, while a 0.6% tax rate is applied to land. We remind you that these rates are calculated according to the price of the property.
Who is exempt from real estate tax in Turkey?
Those who own a single house of no more than 200 m2, they don’t have any other winter houses or resorts, and they do not have any share in another dwelling (housewives – widows – orphans – disabled – of warriors and martyrs – relatives – retirees).
Consequences of delay payment of annual property tax:
The owner of a property must pay the real estate tax on time. In the event of delay in payment of the tax, a fine of 1.40 percent shall be added to the value of the tax.
Edited by: Ebla Group Real Estate
If you like the topic, do not forget to share it with your friends.
