What are the property taxes in Turkey? They are sums assessed on the buyer, the seller or both and paid to the property tax office in Turkey when a property is bought or its ownership transferred. There are details specific to these taxes: how much are property taxes in Turkey, when are they paid, what types are there, and are they paid once, annually or monthly?
Types of property tax in Turkey.
The property taxes in Turkey that are paid once
Value added tax: this tax is calculated on the market price of the property.
Title deed tax, the cost of registering a property in Turkey: this tax is charged when the ownership documents are registered, that is when the title deed is entered at the land registry office in Turkey
The property taxes in Turkey that are paid once a year
Municipal charges on property in Turkey: Turkish municipalities levy an annual charge on buildings within the area they serve, at three in ten thousand, that is (0.03%) of the value of the property
This tax is in return for the services Turkish municipalities provide. Insurance charges on property in Turkey against earthquakes and natural disasters: an annual tax the property owner in Turkey pays to insure the home against natural disasters and earthquakes
Monthly property charges in Turkey .
These are the charges property owners pay to the company managing the residential complex, known in Turkey as aidat, and they average between 1 and 2 dollars per square metre of the property. They cover the services the complex provides, such as sports pitches, swimming pools and gardens, as well as the wages of cleaning and maintenance workers and security staff. The amount also varies from one complex to another, depending on the quality of the services and the comfort residents enjoy.
Electricity and water charges in Turkey.
Electricity and water carry two kinds of charge: the first is paid once, when the electricity or water meter is registered, and the second covers the monthly bills. Meter registration charges (paid once): these sums are treated as a “deposit” paid when the electricity and water meters are registered. They are paid at the official offices that handle these services, on first registration, and when ownership passes from one person to another you also need to pay transfer charges,
Monthly bill charges.
These charges depend on the amount of water and electricity consumed.