Do they have property tax? O_o
Lets talk about property tax so interesting and so needed question.
1 Who Should Pay Property TaxAccording to Article 266 of the Tax Code of Ukraine, real estate tax payers are individuals and legal entities that own real estate in Ukraine. It does not matter at all whether they are residents or not.
If the owners of the property are several persons, everyone is obliged to pay for the part belonging to him. If the object is in common ownership, but not divided in kind, you will have to agree on which of the owners will pay. This can be done together or in turn.
2 What property do you need to pay tax for
You will have to pay real estate tax for apartments over 60 sq. m, as well as residential buildings with an area of over 120 sq. m. If we are talking about various types of real estate, then their area should be more than 180 square meters. m.
For example, if you own an apartment / apartments and a residential building or parts of them at the same time and the total area of the property exceeds 180 sq. m.
You pay tax for "extra" square meters. Suppose the area of the apartment is 86 sq. m. In this case, you will have to pay tax for 26 sq. m. m (86 sq. m - 60 sq. m).
If the area of the apartment is over 300 sq. m, and at home - more than 500 sq. m, you will have to pay a luxury tax. This is + 1 thousand dollars tax annually to the amount of tax.
Residential and non-residential real estate or parts thereof are taxed.
Please write in comments what tax do you pay will be interesting to see.
3 Who doesn't need to pay property tax
You do not need to pay tax in the event that the object is owned by government authorities, local governments, non-profit organizations, which is maintained at the expense of the state budget or local budget.
You will not pay property tax if your objects of residential and non-residential real estate, which are located in the exclusion zones, mandatory resettlement, buildings of family-type children's homes, hostels, residential real estate that is unsuitable for living, including due to an emergency state, recognized as such according to the decision of the village, settlement, city council or council of the united territorial community.
4 How to calculate the amount of property tax
The real estate tax rate is determined by the decision of the village, settlement, city council or the council of united territorial communities.
It cannot exceed 1.5% of the minimum wage as of January 1 of the reporting (tax year) for 1 sq. meter of tax base.
Since the beginning of this year, the minimum wage was UAH 4723, therefore, the maximum tax rate on real estate cannot exceed UAH 70.8.
The real estate tax rate should be found on the official website of the local government.
In Kiev and Dnepr, this is 1.5%. which is aroud 2.5$ per sq.m
in Kharkov and Odessa this is even less than 2$ per sq/m annually
5 What is the penalty for non-payment of property tax
If you are late with payment for up to 30 days, the penalty is 10% of the tax amount. If you have not paid for more than a calendar month - 20% of the debt.
Upon expiration of the payment deadline, a penalty is charged on the amount of the tax debt at the rate of 120% of the NBU annual rate.
6 When to pay property tax
In 2020, we pay tax for 2019. Until July 1, notifications of the payment of real estate tax should have arrived. If they suddenly did not come, individuals are exempt from liability for late payment.
You need to pay tax within 30 days.
7- To make a little summary - for 100 sq.m apartment you will pay 100$ annual tax,if it will be less than 60 sq.m 0 tax. And if you will have a 100 sq. m. house - you will not pay at all.