Property tax
printWho is required to pay
Property tax is payable by individuals, who own real estate, such as a house, apartment, garage and other types of buildings. Several groups are exempt from the property tax, such as retirees, disabled individuals of 1 and 2 groups, individuals bearing the title of the Hero of Russia and some other groups of individuals.
How to calculate tax amount
There are multiple property tax rates, which are set by the local authorities and depend on the total taxable property value. The total taxable property value is calculated by authorities according to the uniform methodology and does not necessarily represent the actual market value of the property. The tax rates are set for the specific ranges of the taxable property value. For example, for the property with the total taxable value less than 300 thousand roubles, the property tax rate is less than 0.1%, for the property with the total taxable value from 300 to 500 thousand roubles – from 0.1% to 0.3%, and so on. The total property tax payable equals the property tax rate multiplied by the total taxable property value.
How and when to pay property tax
Property tax is paid by the property owners by 2 equal installments – 50% of the total amount due must be paid no later than September 15, another 50% - no later November 15 of the year for which the tax is paid. In case of shared ownership the amount of tax due is paid by all owners of the property on the pro rata basis. The total property tax payable is calculated by the Russian tax authorities, which send the tax due notices to the tax payers.
How to find out more about property tax
Federal law “On Taxation of Property of Individuals” covers property tax in detail. It is a separate law, and it is not a part of the Russian Tax Code.
Valid as of 18.05.2012
