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The city Council increased the tax rate on real estate

Киевсовет повысил ставку налога на недвижимость The rate will increase from 46.5 to 62.5 UAH per square meter.

According to the new decision of the city Council, the tax rate on residential and nonresidential real estate in Kiev now will be the same – 1.5% of the minimum wage per 1 sq. m. In the previous version of the document it was set at 1.25% of the minimum wage per 1 sq. m. for residential and 1.5% of the minimum wage per 1 sq m. for most non-residential real estate.

1 January 2018, the minimum wage in Ukraine amounted to UAH 3 723. Therefore, in 2018, the people who own in Kiev, apartments, villas, manor houses, cottages and other residential property, had to pay the estate tax in the amount of 46.5 UAH for 1 sq. m.

From 1 January 2019, the minimum wage, according to the Cabinet, will amount to UAH 4170, so the people of Kiev will have to pay tax for each square meter of their residential property in the amount of 62.5 USD.

Tax-exempt housing area has remained the same: 60 square meters for apartments and 120 square meters. m for houses. If the taxpayer owns several properties, the minimum free area is 180 sq. m.

Property tax is paid for each square meter that exceeds the norm.

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