Property taxation in Muncan Republic

Property tax is a tax paid on property owned by an individual or other legal entity, such as a corporation. Most commonly, property tax is a real estate ad-valorem tax, which can be considered a regressive tax.

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Property taxation management

Property tax is calculated by a local government where the property is located and paid by the owner of the property. The tax is usually based on the value of the owned property, including land. However, many jurisdictions also tax tangible personal property, such as cars and boats.

Property taxpayers

Every homeowner pays taxes based on their home’s value and the property tax rates for the county or city. 

Terms for the payment of property taxes

Most areas charge property taxes semiannually, and you pay them in arrears. For example, in 2021, you’d pay the property taxes for 2020.

Property tax reliefs

Tax exemptions and exclusions from RET applies, among others, to:

  • farmlands and forests not occupied for business activity (which are, however subject to agricultural tax or forest tax),
  • fallow land, ecological sites, woodland and shrubland, except for those used to conduct economic activity,
  • land occupied for lanes on public roads,
  • real estates occupied to conduct unpaid statutory public benefit activity by public benefit organizations,
  • other exemptions introduced by resolutions of municipalities,
  • historical monuments,
  • railway and port infrastructure and real estate located in airports.

Property tax rates

The assessment rate, determined by the legislator, is set based on the nature of the property asset and on its location. Generally, it ranges from 0.7 % to 1 % Read more about property tax rates on this page.

Tax advice

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