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Belarusian real estate tax system in for remodeling

MINSK (BelTA) – A unified real estate tax may replace the current land tax and real estate tax in Belarus, BelTA learned from Vyacheslav Abramov, Deputy Chairman of the State Property Committee of Belarus, on 4 February.

According to the source, a pilot project is in progress to form and evaluate the cadastral value of real estate in Kobrin District, Brest Oblast and Sovetsky District in Minsk. The main purpose of the project is to evaluate the advisability of calculating the real estate tax on the basis of the cadastral value of real estate assets.

The pilot project is supposed to produce cadastral values of land plots and their inseparably associated real estate assets. The Tax and Duties Ministry will use the data to offer rates of the real estate tax instead of the individual land tax and real estate tax that exist at present.

As part of the pilot project the necessary aerial photos were taken in 2015. Unified real estate assets (land plots and capital structures on them) were formed. Information was collected about real estate assets that were involved in deals from 2010 through August 2015. Software for automating all the processes was developed. Experience of colleagues from Latvia and Lithuania was taken into account.

The decision on the advisability, the timeframe, and the technology for doing the same operations nationwide for the sake of gradual reformation of the real estate system is supposed to be made in late 2016.