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Turkey – Property Taxes

Property Tax

  • Calculated based on the value of the property as determined by the local tax authorities
  • Ranges between 0.1% to 0.3% of the property value, with a cap on the taxable amount

Capital Gains Tax (CGT)

  • Property sellers in Turkey are subject to CGT on the profits from property sales
  • CGT rate ranges from 15% to 20%, depending on the length of ownership and the amount of profit

Inheritance Tax

  • Inheritance tax applies to the transfer of property from a deceased person to their heirs
  • Tax rate depends on the relationship of the heir to the deceased and the value of the property

Gift Tax

  • Gift tax applies to the transfer of property from one person to another as a gift
  • Tax rate ranges from 0% to 20%, depending on the value of the property and the relationship between the giver and recipient

Tax on Property Income

  • Property owners in Turkey may be subject to tax on rental income received from their properties
  • Tax rate ranges from 15% to 35% based on the amount of rental income

Tax Advantages in Buying a House in Turkey

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  • Reduced CGT rate for properties held for a long time (more than 24 months)
  • Exemption from CGT for primary residences
  • Tax benefits for homeownership, including deductions for mortgage interest and property taxes.

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