Government: Property revaluation starts in February, bylaws soon

The revaluation of properties will begin in February, Minister Petrit Malaj told Report TV. He said that the relevant instructions will be approved very soon in order to begin the revaluation process.

"This law entered into force on January 22 and the accompanying instructions are expected to be approved very soon. Within the first half of February, we will have the relevant instructions to continue with the revaluation process," said Malaj.

For the revaluation of real estate, it is proposed that the tax be 5%, down from the 15% currently paid if the property is sold. The tax is paid for the difference in value between the value registered in the cadastre and the value at which it is sold. 

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