With Turkey's charming Mediterranean Riviera, Antalya has become an appealing location where demand for property investment has skyrocketed. Whether it is to buy a second home or to invest in real estate, realizing the importance of property taxes is imperative.
This article is going to let you know all the details including property tax rates in Antalya, how they are assessed, and tips you will find useful in relation to your tax payments.
Property Tax Rates in Antalya
Real estate taxes in Turkey are assessed on the effective income earned from renting the assessed property. Turkey also has “Metropolitan Areas” wherein big cities like Antalya are ranked and met with population classification systems where tax rates in such cities are generally higher than tax rates in towns and rural areas.
The taxation rates fetched by the property owners for the state of Antalya are illustrated below:
Residential Properties:
In cities like Antalya with a large metropolitan population, it is expected that there will be an imposition of property taxes, and residential building property tax rates will generally stand at 0.2% of the recorded value of the property.
Commercial Properties:
While commercial properties or business properties do tend to be a little more expensive, the property tax rate is 0.4% of the declared price of the asset.
Land:
For lands within the limits of Antalya, a property tax of 0.2% is applied to property owners. In the case of the land under development, the tax applicable is lower at 0.1%.
Agricultural Land:
In Antalya, the tax charged on agricultural land is 0.2%.
The rates mentioned above are charged on a yearly basis and are on the assessed value of the property as per the records of the local municipality.
Tax Incentives and Exemptions in Antalya
Part of Turkey's architecture, also has some tax reductions and exemptions, and given that certain conditions are satisfied, it is possible to enjoy a lower rate of property tax within the city of Antalya. Some of the major exemptions include:
First Time Home Buyers:
If it is the first house that is being purchased by the taxpayer, he or she might be entitled to a less expensive property tax for a specific period.
Pensioners and People with Disabilities:
Property tax exemptions shall be also extended to retirees, disabled persons and persons such as veterans. In case the house is the main home and the house is not larger than two hundred meters in square, the owner may be exempt from paying the yearly property tax.
Poor citizens:
People who have a low level of income and hence are not able to afford the full burden of the property tax are also allowed a certain percentage of exemption or reduction on the property tax.
Finally, it is essential to contact the local municipality, to verify that such or any other tax reductions or exemptions are applicable to the taxpayer.
How to Pay Property Taxes in Antalya
Not only is paying property taxes in Antalya easy, but it also comes with different options. Here are your choices:
Online payment:
The most convenient is the option of paying property tax online via the municipality’s portal. You will log in with your tax ID number and follow guidance until payment is made.
In-person Payment:
You can also pay directly at the local tax office or municipality building in Antalya. You just need to show your property registration details, and the amount due shall be paid.
Bank Transfers:
Property tax payment services are also provided by a lot of banks in Turkey. For example, you can go to the bank and transfer money to the municipality or do it on the bank’s online system.
Always remember to keep your payment receipts in case of any claims regarding the payment in the future.
Penalties for Late Payment
The failure to pay your property taxes within a period can attract nasty penalties. The Turkish government has a system of imposing late fees that is gradually increasing every month. In order to save on these additional costs, property taxes owing are therefore advised to be paid on time or owners can sweet talk the municipality to set up a schedule for paying the taxes owed.
Conclusion
Antalya's growing appeal as a prime property investment location makes understanding property tax obligations essential for potential buyers. The property rates in the Antalya region are average as is the case with other regions in Turkey but as a big city, it is higher than in small towns.
