The taxation will not be crutual

Oct 22, 2009
TBT staff and wire reports

For the majority(85%) of flat owners the real estate tax, which is most probably going to be induced next year, will not surpass a 15 lats a year. It is on the assumption of the tax staying beyond 0.1% (from cadastral value) mark.

Besides that, about 2% of the residents will be paying a tax in the size of 30 lats a year. This will be the accommodation keepers, who's housing's price is bigger then 30 000 lats.

According to the data from State Land Service, there are only 5 private houses currenly in Latvia, with a cadastral value larger then 500 000 lats. The owners of these houses will have to pay at least 500 lats a year as a real estate tax.

What concerns the majority of the house owner(80%) the taxation will be up to 10 lats a year. Still were will be several house owners(5%) who will be charged more then 30 lats a year.

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