How much is apartment tax in Turkey?

2024-06-25
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In Turkey, the property tax rate varies depending on the location of the property, particularly whether it's in a major city or a smaller town. Here's how the tax rates are structured:

  1. Basic Tax Rate: The baseline property tax rate in Turkey ranges from 0.1% to 0.3% of the property's assessed value. This rate applies to properties outside the major urban centers.
  2. Increased Rate in Major Cities: In larger cities, which include 30 provincial capitals with populations exceeding 750,000 people, the property tax rate is doubled. This means that in cities like Istanbul, Ankara, Antalya, Izmir, and Trabzon, the tax rate ranges from 0.2% to 0.6%.

These rates are applied annually, and the tax is calculated based on the property's value as assessed by the local municipality. The assessed value is usually lower than the market value, but it is important for property owners to check their official assessments to understand their tax liability accurately. To get the residence permit, you have to check how much you have to invest in the real estate first.

Additionally, when buying a property, it's crucial to account for other potential costs, including a one-time purchase tax, notary fees, and registration costs, which all add to the total expense of acquiring property in Turkey.

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