New Cadastral Values Planned for 2025
Ministry of Justice has prepared proposals for amendments to the cadastre law that imply postponing the new cadastral value base entering into force to 1 January 2025. And until 31 December 2024 the currently effective cadastral values shall be applied.
As the Ministry of Justice states, the developed proposals provide setting that further on the new cadastral value bases should be published not later than 18 months before they enter into force. It means that the people will become aware of the new values at least 18 months before they are applied. Thus the cadastral value base would be developed in accordance with the situation on the real estate market as it was two and a half years before the cadastral value base is applied to calculation of the cadastral value.
It is anticipated that until the new cadastral value bases for years 2025–2028 are approved by the Cabinet of Ministers, for informing the society the State Land Service shall maintain the cadastral value base on their website, which was developed according to the real estate market conditions as on 1 July 2029, and the cadastral values calculated in accordance with that base. The said designed cadastral values shall be reviewed by the State Land Service at least once in 12 months and the designed cadastral value base will be published before forwarding it to the government for approval.
Taking into account the fluctuations of the real estate market and its cyclic nature, it is planned to ensure an option of more flexible harmonisation of the newly calculated cadastral value with the real estate tax. In order to implement it, in cases when a substantial growth of cadastral value is observed the Ministry of Justice proposes to provide the right for the Cabinet of Ministers to decide on not applying the approved cadastral value base to calculating the cadastral value for the real estate tax needs (staying with the approved cadastral value base of previous period), this way limiting the possible growth of real estate tax.