Mortgage Interest Deduction; Those who buy a house with a bank loan pay attention! Consumers who buy houses with a loan will pay a fine if the property tax they declare is lower than the loan they use.
He emphasized that those who take housing loans should be careful while paying property tax. For example, a consumer who bought a house using a 200,000 USD bank housing loan, because the house purchased has a lower fair value in the municipality. He pays real estate tax by declaring 100 thousand USD. This situation usually occurs and penalties come into play. The consumer who aims to pay the annual real estate tax less handles the amount of credit he uses. In this case, the consumer can pay tax penalty. “
Mortgage Interest Deduction
Interest stated that the fair value of the real estate in the municipality shows the minimum value of the house, and pointed out that if the purchased property is purchased with a bank loan, a real estate tax must be paid from the higher loan amount.
“Take advantage of regret”
Interest, which advises citizens to look at the declarations of the houses they bought using loans, said, “If the loan amount is above the real estate tax value, it is beneficial for the citizens to make correction petitions to the municipality according to the regret provisions. Likewise, if the consumers make a low declaration in the deed transactions, they also make a correction declaration. They can get rid of interest tax penalties, “he said.
Reminding that there is no real estate tax for those who are retired and insured, have no other income and their widows and orphans, unemployed, housewives, citizens with disabilities.
Widows and orphans of the martyrs and their gross residences below 200 square meters, ” If there is excess property tax paid due to incorrect calculation, a refund may be requested from the municipality for 5 years “.
As with all tax types, some exemptions apply to property tax. Real estate tax exemption is also applied in 2020, and people who want to benefit from this right can write their property tax exemption petitions and make their applications through their municipality. So, who doesn’t pay real estate tax? Who Pays Property Tax? All immovable owners who cannot benefit from the 2020 property tax exemption will be held liable for making property tax payments. What happens if real estate tax is not paid?
Real Estate, Mortgage Interest Deduction
Real Estate Tax payment is mandatory and fines are imposed if it is not paid. Real estate tax was reduced from 1.40 percent to 2 percent with the amendment of the law. In other words, people who do not pay real estate taxes face a 2 percent penalty per month. Since the residence with real estate tax debt cannot be sold from the land registry.
This amount must be paid for the transfer of land during the sale of the real estate. Does Real Estate Tax Pay With Single House? It is not enough for a person to have a single house for property tax exemption. People who do not have an exemption condition are obliged to pay property tax even if they have a single house.
Persons who are eligible for property tax exemption requirements do not pay property tax. Who Doesn’t Pay Real Estate Tax, What are the Real Estate Tax Exemption Conditions? People who meet the conditions for property tax exemption do not pay property tax. Required property tax exemption conditions are listed as follows.
5 Years Real Estate Tax
The house in question is less than 200 square meters and the owner of the right to benefit from this right does not have another property registered in his name. People with no income, housewives, relatives of martyrs, veterans and retirees do not pay property tax. You Can Get Back 5 Years Real Estate Tax Amount!
Those who want to take advantage of the property tax exemption need to declare this with a petition by going to the land registry office in the municipality where the property is registered as an address. Again, if this person has a property tax they have already paid, the overpaid property tax can be taken back. Here, timeout is applied as 5 years and the amount of real estate tax paid for 5 years is paid in bulk.
Real Estate Tax Exemption Law “In the second paragraph of the 8th article of the Real Estate Tax Law No. 1319,” The President excludes those who are obliged to look after him and have not completed the age of eighteen. Who certify that they have no income, revenue exclusively established by law those who consist month they receive from social security institutions.
Veterans, the disabled, the martyrs of the widow and the only abode that does not exceed a gross 200 m2 within Turkey’s borders of orphans (including the possession of usufruct state) if, belongs to this residence is authorized to reduce tax rates to zero. This provision also applies to the part of the shares, if the above mentioned have a single dwelling.
Real Estate The Ministry of Finance
This provision does not apply to dwellings used for resting purposes in a given time. The Ministry of Finance is empowered to determine the procedures and principles of documenting that there is no income.
Founded social security institutions located consist month they receive from the veterans, the disabled, of widows and orphans of the border with World martyrs gross 200 m2 exceeding if they have a single dwelling (including the possession of usufruct state), this dwelling owned buildings tax rate for 2007 and subsequent years has been reduced to zero.