Situated on the impressive Turquoise Coast of Turkey, Kaş is famous for its beautiful nature, historical sites, and peacefulness. Therefore, it is understandable that the growing number of domestic and overseas property purchasers who want to have a bit of Mediterranean paradise are drawn to the town. That said, anyone looking to buy a house in Kaş should know a thing or two about all the costs associated with the acquisition, including property taxes. In this blog, we will explore how much property tax in Kaş is, residential as well as commercial property tax rates, and what is important for you to be a property owner.
Property Tax in Kaş: A Brief Overview
Known as ‘Emlak Vergisi’ in Turkish, property tax is an annual payment obligation to property owners in Turkey including Kaş town. This also applies to both residential and commercial properties, and it is paid by the owner depending on the value of the property.
Property taxation takes into consideration the structure type, its geographical area, and the overall valuation.
Causes of Property Tax Rates in Kaş
The above-mentioned property rates on tax are always conceptualized and imposed by the local authority in charge of the area. And they are based on assessed property value bared. Below is a summary that highlights the common property tax rates for different categories of properties in Kaş.
Homesteads:
The average property tax rate that is applicable in Kaş for residential houses is 0.20% of the assessed value. This rate is given for properties that are situated within the Kaş municipality boundary. But for those located outside the municipal limit, the rate is cheaper at 0.1% as compared to the one within the limit.
Commercial Retails:
In Kaş, owners of commercial property pay property taxes at the rate of 0.40% of the assessed economic value of the said property to the state. As it is with residential properties, the properties for commercial use located within the municipal boundary are taxed at the standard rate, however, outside this boundary, the rate applicable is 0.2%.
Land:
The tax rate for none built up undeveloped land is 0.60% for properties within the municipal limits, and 0.30% for such properties outside these limits. The limited nature of land in Kaş and the increase in its popularity has led to high land demand thereby increasing its land ownership tax burden.
Other Taxes Of Property in Kaş
Along with the standard yearly property tax applicable to all property owners or buyers in Kaş, there are other taxes and charges that they ought to know about.
Title Deed Transfer Tax:
There is a title deed transfer tax payable in Kaş property purchase, which is charged at the rate of 4% of the valuation of the property. This tax is usually borne by both the buyer as well as the seller of the property concerned.
Value Added Tax (VAT):
For the most part transactions of property in Turkey do not include VAT but in certain new property transactions, there is a VAT that comes in the range of 1% to 18% depending on the nature and purpose of the property transaction.
Inheritance and Gift Tax:
If for instance you own a property in Kaş through a will, or you are given one as a present, you will likely encounter a tax known as the above-mentioned tax, which varies between property values of 1% to 30%.
Property Tax Payment in Kaş
In Kaş, the property tax is processed in two payments annually. The payment periods are :
- First Installment Due date: May 31
- Second Installment Due date: November 30
It is paramount to pay property tax within the stipulated time to avoid any penalties that might
accrue as a result of delayed payments. One may pay the property tax at the local municipality in Kaş or use the internet payment options availed by the Turkish Government. Having said that, some property management firms offer the service of paying taxes on behalf of their clients which makes it easy for foreign buyers.
Conclusion
If you already possess or have a plan to purchase a piece of property in the municipal area of Kaş, one of the major concerns you need to handle is the property taxation. It is really important whether you own a house, an office, or even a piece of land; the taxation that needs to be paid is very important in running the business and managing one’s investments.
Although property tax on residential properties ranges anywhere from 0.2% to 0.6% on the land, these figures are published and thus one can make sure that the joy of owning property in Kaş is not disappointing in any way. Always aim to remit your tax payments on or before the due dates. It is also recommended to secure the services of a local attorney who is well versed with the tax laws and even provisions since they may be very complex for you as a first-time visitor to the area.
