Deadline for real property tax expires soon

The second deadline for paying the tax on real property is due to expire on October 15, Info-Prim Neo reports. Stela Gutu, department head at the State Tax Inspectorate, said that starting from this year, garages, land and buildings in amateur farming associations, as well as commercial and industrial buildings will be among the types of property for which their real market value (as opposed to a nominal one) will be applied to calculate the tax. For the commercial and industrial property, regardless of their location, the applied rate is 0.1% of their monetary market value as appraised by the cadastral authority. For the other types of real property where the market value is used, namely for housing in cities and towns, garages, land and buildings in amateur farming associations, the rate ranges from 0.02% to 0.25%. In Chisinau municipality, the tax rate for homes under 100 square meters is 0.03%, for homes measuring 100-200 square meters is 0.09%, and for those exceeding 200 square meters 0.15%. Garages and plots in farming associations within the municipality are imposed at 0.03%. In rural areas, the tax levied on houses and subsidiary farms is calculated the old way, with a rate of 0.1% of the nominal value. Stela Gutu said that more and more taxpayers choose to pay the real property tax in advance, until June 30, in order to benefit from the 15% discount. Whereas in 2008 payments in advance constituted 13 million lei, the sum rose to 15 million lei in 2009 and to approximately 20 million lei in 2010. The tax on real property can be paid in two installments, no later than on August 15 and October 15. The penalty payable in case of delay is 0.03% of the amount due for each day of delay.