UrBC, Yekaterinburg, March 27, 2019. Sverdlovsk Region’s 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 Region’s home owners will have to pay a property tax that will be determined based on their assets’ cadastral value.

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

According to Sverdlovsk Region’s acting Minister for Public Property Management Sergey Zyryanov, the new assessment principles aren’t 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 Region’s property owners will even start paying less.