Turkey Property Tax
| Turkey Property Buyers and Sellers Tax |
Approximately 1.5% is paid by both parties based on the
declared price of the property. This is tax that is paid at
the time of title deed conversion over to the buyer's name,
which could be several months after completion. In
practice, sellers push this liability onto the buyers and
buyers pay 3%. |
| Government tax |
Approximately £130 per
annum |
| Community tax |
Approximately £12 paid yearly for local services.
|
| Property tax |
Approximately 0,5% based on the declared value of
property, paid yearly.
|
Buildings and land
owned in Turkey are subject to real estate tax at the following
rates:
- Residences 0.1%
- Other buildings 0.2%
- Land 0.1%
- Vacant land (but allocated for construction purposes) 0.3%
- Farming lands 0%
Property acquired
as a gift or through inheritance is subject to taxes of between 1%
and 30% of the valuation. Tax paid in another country on inherited
property is deducted from the taxable value of the asset.
Inheritance tax is payable over the period of three years and in two
installments per year.
Environmental Tax
Environmental Tax
contributes towards the financing of certain services such as
rubbish disposal. This tax is levied in staged payments and is
charged according to the location of the property.
Income Tax (such as Rental Income)
Income tax is based on residence hence if you are not a resident in Turkey, then there will not be any tax payable in Turkey.
