Turkey released the Real Estate Tax Law General Communiqué No. 86 on 30 December 2024 in the Official Gazette, which updates the Valuable Housing Tax Brackets for the year 2025.
The purpose of this Communiqué is to provide explanations regarding the real estate tax values (for buildings, land, and plots), the minimum unit values per square meter of land and plots to be considered in calculating the real estate tax values for taxpayers in 2025, and the determination of the thresholds and limits of residential property values subject to the valuable property tax, as specified in Article 42 and the second paragraph of Article 44 of the Real Estate Tax Law No. 1319, dated July 29, 1970.
The revised tax brackets and rates, which took effect in January 2025, are as follows: a 0.3% tax will apply to properties valued between TRY 15,709,000 and TRY 23,564,000; a 0.6% tax will be imposed on properties valued between TRY 23,564,000 and TRY 31,421,000; and a 1.0% tax will apply to properties exceeding TRY 31,421,000
