Title Deed Fee and Real Estate Tax Calculation System is Being Renewed

The regulations to be made by the Ministry of Treasury and Finance will make changes to the land registry system. From now on, land registry fees and property taxes will be calculated based on the real values ​​of real estate.

A comprehensive regulation has been completed in the field of taxation in Turkey. The draft prepared by the Ministry of Treasury and Finance was presented to President Erdoğan and will be finalized and sent to the Turkish Grand National Assembly. This regulation also closely concerns the real estate market. Payment amounts for land registry fees and property taxes will be determined with a different method.

The Calculation System is Being Updated
Minister of Treasury and Finance Mehmet Şimşek announced that a new regulation has been designed for tax justice. Especially in land registry fees, citizens were showing the real estate sales value lower in order to pay less. This situation will end with the new legal regulation and the land registry fee will be calculated based on the real sales values. This system will be implemented in a certain order.

So What Will the New System Be Like?
A regional market value application will be implemented in land registry transactions and taxation will be based on the real value of the real estate in order to avoid tax loss in real estate sales. For this purpose, a real estate value information system will be established. This system will include data on the values ​​of real estates and ownership information and will work integrated with the Land Registry and Cadastre Information System. When a transaction is requested at the land registry, the real value of the real estate will be reflected on the screen.

The issue of how to determine the real values ​​of real estates will be resolved with expert reports. The officially determined expert values ​​for real estates will be added to the system. The title deed fee will be calculated based on this value during the transfer of the title deed.

The calculation method is also changing in real estate tax. There will be no change in the rate, but the system that will be applied in the title deed fee will also be valid in real estate tax. The expert values ​​of real estates will be determined regionally and entered into the system, and the property tax will be calculated based on this value.

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