Government has increased the reference prices of the apartments on which the property tax is assessed, in order to bring their value closer to the current real estate sale and purchase market.
The new formula approved in 2018 provides that the building tax for families will be 0.05% of the apartment’s value, while for businesses, this tax will be 0.15%.
The changes for the 2018 decision on the methodology of the taxable value of real estate for all municipalities of the country, including Tirana, have been published in the Official Notebook. In the approved changes, the government has increased the reference prices per square meter of housing on which the property tax is calculated. The reference prices had remained unchanged since 2016.
The average increase in reference prices for the 32 cadastral areas of the capital is calculated around 29,600 Lek per square meter.
The area with the highest reference prices continues to remain that of the former Block, which with the reference prices of 2016, 190,000 Lek/m2. With the latest changes, the price reaches 228,400 Lek/m2. Next are the areas of Piramida and the “Qemal Stafa” stadium, which have a reference price of 202,400 Lek/ m2 and the third cadastral area with the highest reference price in Tirana is the area of Telekom and the ish-Lidhja e Shkrimtareve, where the reference price is determined from the government is 192,800 Lek/m2, experiencing an increase of 33%.
While in percentage terms, the biggest increase in prices is in Unaza e Re, Fabrika e Miellit, ish Fusha Aviacionit and Yzberisht, which have an increase of 76%, since from 65 thousand Lek/m2, the new price has already gone at 114,650 Lek/m2. The area at “5 Maji” has increased by 58%, the third area with the largest increase of 54% is Medrese, Pharmacy no. 10, Industrial Market, which from 100 thousand Lek/m2, now have a reference price of 156,700 Lek/m2 .
While for some former municipalities, the price for Farka has almost doubled, since from 66,500 Lek/m2, with the new prices it goes to 115,200 Lek/m2.
