The Cadastre Committee launches e-calculator for property tax
Armenia’s Cadastre Committee which maintains state registry of real estate has launched a tax calculator for Armenian taxpayers that will allow them to calculate how much they will pay in property taxes after the recent legislative changes.
According to the source, citizens can estimate their tax liability for 2021-2026 as the new legislation gradually enters into effect.
To remind, the parliament adopted the changes and supplements to the Tax Code on June 25 with a vote of 70 for, 11 against and 2 abstentions. The bill calls for a sharp increase in property taxes paid by rich citizens. Under the new law, the property taxes for real estates is determined on the basis of their market value instead of their cadastral valuation.