Yerevan Residents Have Started Paying More Property Tax: Mesrop Arakelyan

Former Minister of Labor and Social Affairs Mesrop Arakelyan has stated, “Authorities boast that the budgetary revenues of Yerevan have increased. The truth is that residents of Yerevan have begun paying more property tax, as the property tax rate was raised by 20% in 2022. This year, it will increase by another 17%. This trend is expected to continue for a number of years. By 2026, we will be paying four times more property tax than we did in 2021. The people are not material for penalties; they are material for taxes.”