Is there statute of limitation in real estate tax? This question is wondered and asked. The main thing for the real estate tax to occur is that the owner of the property notifies the relevant municipalities. There is not any limitation period for declaration of real estate tax to the municipality. Fundamentally, the real estate owner makes a notification within 3 months. There is not any period of limitation for real estate that have not been applied for or registered with the municipality for real estate previously owned or for which the municipality has not decided before.
What is Statute of Limitation in Real Estate Tax?
In other words, since there is not a period of limitation in the real estate tax, no matter what date the property is bought, whenever the municipality is notified, then tax liability starts. For example, if a declaration is made in 2022 for an apartment that was purchased in 2010 but not declared or if the owner of the apartment has tried to sell his apartment, the real estate tax of the years passed is calculated and collected from the taxpayer. In fact, taxpayers have to pay together with the legal penalty, since there is a tax loss during this period. Naturally, this is not possible. Real estate declaration becomes necessary within the framework of official dealings.
To Whom Is Tax Penalty Applied in Real Estate Tax?
For taxpayers who did not make any declarations, questions are also asked whether there is any period of limitation on real estate tax. Real estate tax must be paid on time by every property owner. However, if there is not any declaration that the real estate has been purchased, the debt on behalf of that person is not seen for the first time. However, the truth will emerge during an official transaction or sale of the real estate in question. In this case, both property tax and tax loss penalty are applied for the remaining and tax-free years.
Real estate tax is paid regularly twice a year. The first taxation usually begins in May and the second period in November. Although the real estate tax payment dates may change from year to year, two payments are made in the middle of the year and at the end of the year. If you do not pay the real estate tax on the specified dates, you may have to pay a fine. Tax penalties are also applied for late payments.
Who Is Exempted From Real Estate Tax?
One of the most important conditions is that the owner does not any income to be exempt from real estate tax. In addition, retirees, widows, orphans, the disabled, relatives of martyrs and veterans or war veterans can also apply for real estate tax exemption. To be exempt from real estate tax, a person must own no other property, but the property must be used for permanent residence. Also, the width of the property must be less than 200 square meters. In addition, tax is not paid on state institutions and lands. Consulate buildings, religious buildings, dams and military buildings in foreign countries are among the structures exempt from real estate tax.