Property re-evaluation procedure

The deadline to make property revaluation closes on February 28 of this year. For every property, subject to revaluation, whose value will be registered with IPRO there will be paid the difference tax, which is 2% for individuals and 3% for businesses.

President of the Notary National Chamber Mimoza Sadushi says that the interest in this process has been high and many properties had much higher values compared to the prices that they were bought. Sadushi said: “There has been a lot of interest. There are citizens who make revaluation to bring the value of property in the value determined by the government as per the reference price. If the person wants to bring the property in the value higher than the reference price, because his property actually has a greater value, then he addresses the matter to assessors.

Sadushi: They verify the location of the property. I think apartments are those that are mostly re-evaluated, but also shops or territories and the citizen will always will pay 2% of the difference of the value that it has bought with the value that it has today. But if this interest is high, the deadline of this revaluation process will be delayed beyond February

18 April 2017

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