2023 Year Luxury Housing Tax Implementation

In 2022, for residential properties located within Turkey's borders, those with a building tax value determined according to Article 29 of the Property Tax Law exceeding 6,173,000 Turkish liras in 2022 are required to submit a valuable housing tax declaration in 2023.

The tax base is the portion of the 2023 building tax value of the residential property subject to valuable housing tax that exceeds 9,967,000 TL.

For these residences, declarations must be submitted by February 20, 2023, and the accrued tax must be paid in two equal installments by the last day of February and August.

Those with a single residence are not subject to valuable housing tax.

If, in subsequent years, the building tax value of residential properties subject to valuable housing tax falls below the amount specified in Article 42 of Law No. 1319, which is valid for the year the declaration is to be submitted, this situation must be reported by the taxpayer to the relevant tax office along with supporting documents, and in such case, no declaration is required for that year.

In 2023, for residential properties located within Turkey's borders, those with a building tax value determined according to Article 29 of the Property Tax Law exceeding 9,967,000 Turkish liras will be required to submit a valuable housing tax declaration in 2024.