ArmInfo. The cadastral value of luxury expensive real estate in Armenia can increase eight fold. This was stated during the discussion of the draft law "On Establishing the Procedure for Calculation of the Cadastre Approximate to the Market Value of Real Estate for the Taxation of Real Estate" on September 11, head of the Real Estate Cadastre Committee of Armenia Sarhat Petrosyan. Thus, with the adoption of the law, the tax on particularly expensive real estate will increase significantly.
Petrosyan introduced a draft law, which proposes to simplify the types of taxation of real estate by integrating property tax and land tax into a single type of property tax.
According to the head of the cadastre, owners of expensive property on Liberty Avenue will feel a change in property tax much more significantly than a pensioner living in the center of Yerevan who is forced to pay a high property tax, despite the fact that his main income is only a pension. , said Petrosyan. According to the head of the cadastre, this will allow to activate production facilities, as there are areas that do not provide production.
The head of the Cadastre Committee explained that the base tax rate multiplied by the coefficients will be adopted for the entire territory of Armenia, and these coefficients, in turn, will be calculated in accordance with the cadastral zoning.
"The existing 12-zone cadastral division of Armenia will increase to 20 and become more specific," Petrosyan noted.
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