"Old building or new building?" #2
The emergence of new buildings coincides with the late Soviet period and the early years of independ...
If previously, the owner of an apartment was exempt from paying the residence tax by registering in this zone for at least five years, from January 1, 2020, this period has been reduced to three calendar years.
On the other hand, when selling an apartment, regardless of the registration period, each individual will receive a concession for every 30 square meters of living space. This means that a citizen selling an apartment with an area of 70 square meters will only pay tax for 40 square meters. The base tax amount for each square meter of living space is set at 15 manats and is calculated with the zone coefficient. Thus, when selling an apartment, citizens will receive a discount equivalent to 450 manats.
According to the Cabinet of Ministers resolution, Baku city and its surrounding suburbs are divided into 12 zones with conditional coefficients ranging from 0.7 to 1.5, depending on the zone. This means that property owners in the center will pay a higher tax compared to suburban areas. For example, in the 1st zone covering the city center (within the perimeter near the railway station along R. Behbudov and Fizuli streets), the coefficient is 1.5. Therefore, the tax for each square meter of the sold living area here is 15 * 1.5 = 22.5 manats. In the farthest 12th zone, the coefficient is 0.7, meaning the tax is 15 * 0.7 = 10.5 manats.
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