New Property Tax Scale Will Be Based on 80% of Market Value, Arman Yeghoyan Publishes Table

Member of the "My Step" faction of the National Assembly, MP Arman Yeghoyan has made a post regarding the basis for calculating the new property tax scale:

"In the new property tax scale, 80% of the property's market value will be taken as the basis for calculation. This means that if the market value of an apartment is 50 million drams, you will have to pay property tax calculated on a value of 40 million drams. To simplify the situation, you can see in the attached table how much property tax you will pay for an apartment in 2026 (the scale for residential buildings is slightly different). I ask you to locate your or your acquaintances' property in this table and let me know if anyone sees any issues with any line of this scale.

Pay attention to the number of apartments in each category. Notice, for example, that there are only 10,000 apartments in the entire country valued at 60 million drams or more (naturally, not all of them are in the small center of Yerevan). Just yesterday, there was a lot of talk about some astronomically priced apartments owned by single pensioners. What do you think, among these 10,000 apartments, how many are owned by single pensioners, and how many by wage earners or entrepreneurs whose income tax and profit tax have been reduced by 5% and 1% respectively from this year (and will be reduced by another percentage point next year and the year after)?

Let me also remind you that next year we will only pay 25% of the property tax specified in this table, in 2022 it will be 30%, in 2023 it will be 35%, in 2024 it will be 50%, in 2025 it will be 75%, and only starting from 2026 will we pay the full 100%. Opinions?"