Attention property owners: Time is running out for property tax! When is the deadline?

The deadline for the second installment payments of the 2024 property and environmental cleaning tax is Monday, December 2.

Commenting on the matter, Altın Emlak Global General Manager Mustafa Hakan Özelmacıklı said, "We are approaching the end of the period for the second installment of property tax for those who own real estate such as buildings, land, and workplaces. Property taxes are paid to the relevant municipality where the real estate is registered. While municipalities can accept payments through their websites, payments can also be made for some municipalities via e-Devlet. If the property tax is not paid on time, a late payment interest of 2.5 percent is applied for each month and fraction of a month that the payment is delayed."

REVALUATION RATE SET AT 43.93 PERCENT

Stating that the revaluation rate to be applied for 2025 has been set at 43.93 percent, Özelmacıklı added, "The values forming the basis for the 2025 property tax will be increased by half of the revaluation rate, which is 21.965 percent. Furthermore, the standard construction cost values per square meter for buildings to be applied in 2025 for property tax purposes have also been redetermined. According to the schedule included in the annex of the General Communiqué on the Property Tax Law No. 83, published by the Ministry of Treasury and Finance and the Ministry of Environment, Urbanization and Climate Change, the average cost value increase was 47.97 percent."

THOSE EXEMPT FROM PROPERTY TAX

Reminding that citizens who meet certain conditions can benefit from property tax exemption, Özelmacıklı stated, "It is possible for those who document that they have no income other than those who are dependents and under the age of eighteen, those whose only income consists of pensions received from social security institutions established by law, veterans, the disabled, and the widows and orphans of martyrs to benefit from the single residence exemption. However, for this, they must fill out the forms included in the annexes of the General Communiqués on the Property Tax Law and submit them to the relevant municipality."

TAX RATES

Özelmacıklı said, "In property taxes, the building tax rate is 1 per thousand for residences, 2 per thousand for other buildings, 1 per thousand for land, and 3 per thousand for plots. It has been stipulated that the tax rates for buildings, land, and plots will be applied with a 100 percent increase within the boundaries of metropolitan municipalities and adjacent areas. The tax on newly constructed buildings cannot be less than the tax on its land (or land share). This provision is applied for four years starting from the fiscal year following the year in which the construction of the buildings is completed."