The Moscow City Government decided to reduce the tax burden on Muscovites. Cadastral valuation of country houses, offices and other real property will not be conducted this year.
Moscow Mayor Sergei Sobyanin announced that this year’s real estate taxes will be calculated based on the 2018 cadastral value.
Real estate prices in Moscow may go up 3% this year. However, the cadastral value as of January 1, 2020, has nothing to do with the actual situation in the real estate market after the pandemic, the mayor believes. He added that nobody knows how the real estate prices will change after the pandemic.
Therefore, re-evaluation will not be conducted this year, which will help Muscovites to pay lower taxes. Apartment and country house owners may save around RUR 1K ($14) or even more while business people will cut down expenses by hundreds of thousands of rubles, Lenta.ru reports.