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New law allows property tax debt cancellation
Law No. 3 of 2026 announced amendments to the Real Estate Tax Law. These amendments include opening the door for debt forgiveness of the tax and late payment fees under specific circumstances, such as the taxpayer's death without an apparent estate, lack of assets that can be seized, a bankruptcy ruling, or departure from the country for ten years without assets from which claims can be recovered. The law also requires the formation of committees to examine applications within 30 days, and the debt write-off decisions are issued after being approved by the Minister of Finance, with the right to revoke them if it is found that their reasons are invalid. Additionally, the law grants exemptions from late payment fees for those who settle their taxes before the law comes into effect or within six months afterward. It also exempts unregistered properties that were not valued prior to the law's implementation from taxes, provided that a tax declaration is submitted within one year of the law's enactment.
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