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September 18
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The recalculation of the cadastral value of housing should concern only large property owners, MP from the ruling My Step bloc Babken Tunyan said on Thursday.

Moreover, according to him, precisely for this reason, this bill could not be adopted before the velvet revolution.

The above-mentioned bill in Armenia proposes a serious recalculation of the cadastral value of the real estate. The cadastre will review prices, and the Ministry of Finance will decide on how the taxes will be calculated from them. As a result of these reviews, it is expected that property taxes on luxury and expensive mansions and properties will increase significantly.

The bill received the support of MPs from the ruling bloc and was adopted in the first reading by 92 votes in favor, 15 against, and 2 abstentions.

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