More than 400 capital properties are excluded from the list of non-residential real estate subject to property tax based on cadastral value

In Moscow, 406 properties have been excluded from the list of retail and office real estate properties subject to property tax based on the cadastral value. The corresponding decision was made at a meeting of the Presidium of the Moscow Government. Organizations that own excluded objects will pay property tax for 2024 based on the average annual value.

“The city promptly responds to changes in the characteristics of real estate properties and to the requests of their owners and, thanks to effective interdepartmental work, makes the necessary adjustments to the list of retail and office real estate, thereby constantly maintaining its relevance,” noted Maria Bagreeva, Deputy Mayor of Moscow, Head of the Department of Economic Affairs politics and city development.

In Moscow, the transfer of retail and office real estate to the calculation of property taxes based on cadastral value, which reflects the real value of objects and ensures fair tax conditions, began in 2014. The list of retail and office real estate properties for which property tax is calculated based on cadastral value is approved annually by the Moscow Government. In 2024, it will have over 37 thousand objects. These include retail and office real estate, catering and consumer services.