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Private Property Tax Relief up to 8M
The Real Estate Tax Authority announced a package of new facilitation measures, including raising the exemption threshold for residential units from 2 million pounds to 8 million pounds, along with discounts of up to 30% on the payable tax. Law No. 3 of 2026 includes 17 procedures to ease burdens, allowing citizens to submit their tax declarations electronically through a comprehensive digital application for all the units they own. The valuation of each unit is determined based on a unified price map that relies on averages across specified areas rather than assessing each unit individually. Additionally, the law permits the Council of Ministers to raise the exemption threshold in response to economic or social conditions that justify it, with a 25% discount applied to the tax. An increase of up to 5% is allowed for early payment, reducing the tax rate to 30% for residential units and 15% for non-residential units.
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