7. Law amendments effective starting from 2024
Invescore Property LLC, 2024
- PROPERTY TAX LAW
On December 5, 2023, according to the resolution of the Assembly of Citizens' Representatives of the Capital, the tax rate for real estate located in UB city was newly determined, and the following significant changes were made:
- Fifty-two newly created khoroos and all immovable assets will be classified by location (column I), and tax rates will be imposed at three levels (column II).
- The tax rate for properties that do not meet the requirements for parks, green spaces, and parking spaces specified in the Law on Urban Development may be increased to 1.0% (column III).
Rates of Real Estate Tax in the Territory of the Capital:
(I) Rank of location | ( II ) In accordance with the requirements of the law | (III) In non-statutory properties | Effective date of the decision |
1. Suburban area | 0.6% | Increase 0.6% to 1.0% | 2024.01.01 |
2. Close to the city center | 0.8% | Increase 0.8% to 1.0% | 2024.01.01 |
3. In the city center | 1.0% | 1.0% | 2024.01.01 |
To be continued...
Economic State
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