May 7, 2013. The property income tax imposed on private individuals living in Sverdlovsk Region increased by 9% on average in 2012, Sverdlovsk Region division of the Federal Tax Service states.

The scaling factor was determined by the regional government’s decree 9-PP dated January 11, 2012 and amounted to 51.9 and 53.6. This means the taxation base rose by 9% in 2012 on the previous year.

As far as private individuals’ income tax is concerned, the taxation base stems from the total inventory cost of the assets subject to taxation that belong to a taxpayer and are located within a single municipality.

The inventory cost means the replacement value of an asset with some discounts on the wear and tear and the dynamics of prices of building materials, jobs, and services. The replacement value of buildings, rooms, and structures is calculated with the help of Corpuses of rounded-off replacement value and is adjusted to the level of a given year’s prices in accordance with the quotients determined by the Russian Federation constituencies’ executive branches; in the case of Sverdlovsk Region, this means the region’s Government.