During a special parliamentary session today, deputy of the My Step faction of the National Assembly of Armenia Babken Tunyan made a disputed statement, saying that, according to the bill on the establishment of a new property tax system, the property tax will be reduced, and it will grow essentially with regard to the law adopted last year.

Tunyan brought the example of real estate that costs AMD 30,000,000. “People pay AMD 2,500 for such property every year. Since the parliament changed the cadastral value last year, it won’t be raised this year, and if we adopt the amendments proposed by the government, people will pay AMD 43,000 for such property in January 2021. Now, if the bill is approved, people will pay AMD 19,000 for that property, not AMD 43,000. Moreover, the AMD 19,000 must be paid in the course of four years, and in 2021, AMD 4,500 must be paid, but the amount will gradually grow,” Tunyan clarified.

According to the bill proposed by the authorities, the property tax will be raised 3-4 times on average, and in central Yerevan — by 5-5.5 times.