Tax changes related to certain types of real estate will come into force on January 1, 2025. In short, the owners of these “individual species” will have to pay more. But the details are still important here.
Real estate tax changes, which begin to take effect next year, are prescribed in Federal Law No. 176-FZ of 07/12/2024). Firstly, the marginal value of land tax rates increases from 0.3% to 1.5% for land plots with a cadastral value of more than 300 million rubles. But not for everyone, but only for the following:
- occupied by the housing stock and/or facilities of the engineering infrastructure of the housing and communal complex;
- purchased for housing construction;
- not used in business activities, acquired for personal subsidiary farming, gardening or gardening, as well as general-purpose land plots provided for by Federal Law No. 217-FZ of 07/29/2017.
In addition, as it emphasizes nalog.gov.ru Legislative changes have been introduced, thanks to which land plots purchased for individual housing construction and used in entrepreneurial activities are excluded from the scope of the limit value of the reduced land tax rate of 0.3%. “It does not depend on the availability of housing stock or facilities with engineering infrastructure of the housing and communal complex. For example, in the case of identifying the use of such a plot with a residential building in commercial activities for the placement of consumer services, retail, paid guest houses, etc., the maximum value of the tax rate is 1.5% as for “other” land plots,” explains the message on the portal.
Secondly, for capital construction projects, the cadastral value of each of which exceeds 300 million rubles, the maximum values of tax rates are increased from 2% to 2.5%. Their specific values are established by the laws of the subjects of the Russian Federation on the property tax of organizations and normative legal acts of representative bodies of municipalities (laws of cities of federal significance) – on the property tax of individuals.
According to Maxim Chernyadyev, director of the Department of Land Projects at NF Group, for example, in Moscow and the Moscow region, transactions for the purchase of plots and facilities worth more than 300 million rubles are quite common, as a rule, this is the purchase of land for the construction of cottage settlements or logistics facilities or the purchase of real estate for development. “The tax change for owners of residential housing plots that are used in entrepreneurial activities will affect those who do business on a plot intended for housing. This situation is often found both in Moscow and in the Moscow region: most often these are small shops, car service stations, tire repair shops and similar facilities,” the expert says.
In his opinion, for the majority of owners of plots and facilities of the designated threshold value, most likely, nothing will change dramatically. But some owners may be tempted to engage in fragmentation so that the valuation of each individual taxable object becomes less than 300 million rubles.
“Considering that the cadastral value differs significantly from the market valuation of objects and may be several times lower, we can say that this change will affect medium-sized and large high-quality commercial real estate with an area of several tens of thousands of square meters. These can be a variety of buildings of various formats: business centers, logistics complexes, shopping malls, hotel real estate or production facilities,” continues the director of the market research department at CORE.XP Vasily Grigoriev.
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At the same time, in the Union of Shopping Centers, for example, the difference between the market and cadastral value of real estate is assessed differently and the sluggish calmness of consultants regarding the upcoming tax changes is not shared at all. According to STC estimates, there are more than 1,900 high-quality retail facilities in Russia that are suitable for tax increases. “At the same time, they perform not only a commercial, but also a social function, providing both jobs and leisure for residents, supporting the opportunity to spend time with family, relax and study,” says Pavel Lyulin, vice president of the Union of Shopping Centers.
Pavel Lyulin, Vice President of the Union of Shopping Centers, “Amendments to Law 176-FZ from January 1 raise the property tax rate from 2% to 2.5%. Since this is a regional tax and the rate is set by each region independently, you can be sure that the regional authorities will raise it to 2.5% immediately after the law is put into effect. For shopping malls that are experiencing economic pressure related to sanctions, the departure of Western retailers, and the uncompetitive advantages of marketplaces, this means that one of the most significant expenditure items will rise sharply. As the Union of Shopping Centers, we have repeatedly raised the issue that the cadastral value of commercial real estate is calculated based on the expenditure method, as if we were building a new building, while the market value of shopping centers is several times lower. Thus, a disproportionate burden is created on the business, forcing owners to choose between bankruptcy and reckless cuts and savings on everything, driving the retail real estate market into an even deeper crisis. Unfortunately, our numerous appeals with proposals to solve this problem were not heard, and the regional authorities preferred to maximize taxes “here and now” instead of working for the future and raising a “cash cow”.
An increase in the tax and a corresponding increase in the tax burden for trade organizations, which are already not in the best economic situation, will further exacerbate this problem. And it will lead to a series of bankruptcies, closures and layoffs, Pavel Lyulin does not exclude.
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