The draft law on the revaluation of real estate with a 3% tax is deposited in the Assembly

2024-05-14 18:55:00, Aktualitet CNA

The draft law on the revaluation of real estate with a 3% tax is deposited in

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In the Parliament of Albania, the initiative of the deputy of the SP, Blerina Gjylameti, for the revaluation of real estate with a 3% tax, both for individuals and for legal entities, has been submitted for consideration.

Referring to the relationship, the proposal of MP Gjylameti aims to once again offer citizens the possibility of revaluation of real estate from the date of entry into force until June 31, 2025.

In the draft, it is proposed that the subject of this law is also the revaluation of the real estate of individuals who are in the process of legalization and registration of property, who have business contracts and live in buildings that have not yet been legalized.

"This provision aims to deal with cases of those individuals who are in the process of legalizing real estate or even cases of individuals who have apartments with an order or business contract, but due to the problems the construction company has with non-compliance with the construction permit, mortgage of the building is not carried out. The forecast makes it possible for this individual to have the right to reassess his wealth", the report states.

In the draft, the general rules for the revaluation of real estate for individuals, as well as the calculation of the tax related to this process, provide that in case the individual chooses to have the revaluation of the property done by ASHK, it is done at the minimum fiscal prices, which are in in force at the time of the revaluation process and in accordance with the guidelines for the tax on the transfer of ownership of real estate. In this case, the taxable base is calculated as the difference between the value resulting from the revaluation (according to the minimum fiscal prices in force) and the deductible value.

In the event that the individual chooses the revaluation of the property by a licensed expert, the taxable base is calculated as the difference between the value reflected in the property appraisal act and the deductible value. In any case, the value reflected in the act of valuation of the property by the licensed expert cannot be less than the minimum fiscal price.

So for the 32 cadastral areas of Tirana, from August of last year, the new fiscal prices came into force, increasing from 5 to 67% compared to 2018.

The law on the revaluation of real estate with a 3% tax was also implemented in 2020. Due to the situation created by the Covid-19 pandemic, its implementation deadline was postponed twice and ended on December 31, 2021, while it was expected to be closed on September 30, 2020.

Unlike the draft proposed by MP Gjylameti, in the previous law revaluation of real estate was established with a 3% tax for individuals and 5% for commercial entities.

With the previous law, according to the data of the State Cadastre Agency, 56,623 applications were made for revaluation of houses./ Monitor Magazine