Sverdlovsk Regionís Legislative Assembly Votes for New Property Tax Policy

UrBC, Yekaterinburg, March 27, 2019. Sverdlovsk Regionís Legislative Assembly adopted the new regulation on tax property in the first reading, agreeing on the date the new rules should come into effect; the new policy means that Sverdlovsk Regionís home owners will have to pay a property tax that will be determined based on their assetsí cadastral value.

Starting January 1, 2020, the Federal Tax Service will be assigning a property tax based on the particular assetís cadastral value. The value in question will get determined by the State Cadastral Valuation Center. All the information relating to the Centerís assessments will be made available to the public between June 4, 2019 and August 2, 2019.

According to Sverdlovsk Regionís acting Minister for Public Property Management Sergey Zyryanov, the new assessment principles arenít expected to affect the amount of existing tax the home owners pay in any considerable way. Thanks to a range of lowering coefficients, some of Sverdlovsk Regionís property owners will even start paying less.

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