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How to Calculate the Real Estate Tax for 2019 in Turkey?

: 2019-07-12 Modified date : 2019-08-19

How to Calculate the Real Estate Tax for 2019 in Turkey?
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The real estate tax is very important for property owners. Thus, it is essential to explain in some detail how the real estate tax is calculated, as shown in the calculation of the real estate tax of 2019, the calculation of its interest and the statement of exceptions.


How to calculate the real estate tax

How to calculate the real estate tax for 2019

One of the questions asked by the owner of the property, when he wants to arrange his papers receiving a new year, How much is the real estate tax that I have to pay this year?

We report to you what the journalist "Ahmed Karabayk" wrote in the Hurriyet newspaper, answering this question:

"The first installment of the real estate tax has started in early May and ends at the end of the month. The second installment will continue until the end of November this year. "

The percentage of tax is a fixed and known percentage, its value: 1 per thousand of the price of a residential property, and 2 per thousand for non-residential properties and Workplaces, and The proportion of each type of property is doubled if they belong to the municipalities of major cities.

We have detailed this in a previous article entitled: 5 Things You Should Know About Real Estate Tax in Turkey.

Real estate tax

Example shows how the real estate tax is calculated

We said that the tax is 1 or 2 per thousand of the value of the property, how is this value calculated?

The real estate value of the property in 2019 is calculated from its value in 2018, plus half the percentage increase in the value of the property in 2019. To illustrate more:

The fair value of a property in 2018 amounted to TRY 100,000, and with the addition of half of the percentage increase in value in 2019, amounting to 11.865%, the value of the property becomes 111,865 TL. If we calculate 1 per thousand of this value, the tax to be paid this year will be 111.87 Turkish lira (and the fractions will be increased).

If the property itself is within the boundaries of the areas of one of the major cities’ municipalities, the value of the tax to be paid: 2 per thousand of the value of the property in 2019, i.e.: the equivalent of 223.73 Turkish lira.

We give an example for more understanding; we show the figures in the example in the following table:

Place of the property

Property value

2018

Half the percentage increase in property value in 2019

Property value in
2019 after an increase of half the percentage

The value of the tax

Tax payable

Outside major cities

100000 Lira

11.865 %

111865 Lira

1 per thousand

111.87 Lira

In major cities

100000 Lira

11.865 %

111865 Lira

2 per thousand

223.73 Lira

The increase in the value of the year 2019 was determined for construction, agricultural land and construction land under the General Circular No. 74, which was published in the Official Gazette on 31 December 2018. This percentage was set at 23.73% (half of which is 11.865 %).

Real estate tax in Turkey

How was the value for 2018 calculated?

The "The fair values evaluation Committees" undertake a comprehensive evaluation of all properties once every four years. In each of the remaining three years, the value of the increase in the fair value is determined and automatically added to the value of the property in the preceding year.

The evaluation committees to carry out the evaluation work consist of members from municipalities, finance departments, title deed directorate, chambers of commerce, selected departments in each region and other members.

In 2018, the interest rate on the payment of real estate tax was 1.40% of the value of the tax due for each month. This rate was applied as of 19 October 2010, however, this year it was raised to 2% of the tax payable for each month delay.

Property Type

Within the municipalities of major cities

Outside the municipalities of major cities

Residential real estate

2 per thousand

1 per thousand

Non-residential property (place of work and the like)

4 per thousand

2 per thousand

The lands included in the municipal organization or reconstruction plans

6 per thousand

2 per thousand

Land not included in municipal regulation or reconstruction plans

2 per thousand

1 per thousand

Plus the real estate tax of 10% of its value, under the title: "conservation of natural resources"


A table showing the value of real estate tax for various properties

After this statement and explanation how to calculate the real estate tax for this year, let us refer to our articles on the same topic, and additional details, dealing with everything related to the subject of real estate in Turkey within Imtilak Real Estate website, the leading real estate consultancy and investment company in Turkey.

Edited by: Imtilak Real Estate ©

Sources: Emlak 365 + Hurriyet

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