What is the cost of tax on land?

juliachcc


Joined: 15/04/2009
Posts: 79

Message Posted:
21/05/2009 22:11

What would the council tax?/property tax cost on LAND 1 3/4 donums in size ? The land was purchased in July 2006?







Is the transfer tax still 0.75% of the value? Is it still in force until the end of June? Will it then revert back to 3%?



Am I right in thinking that KDV is not payable because the vendor is not a professional/semi professional?



Perhaps Sibel can help me with the above.



thanks







Juliachcc

kibrissibel


Joined: 18/02/2008
Posts: 562

Message Posted:
21/05/2009 22:27

Last year divided land was 10ytl per sqm. Divided land per donum was 15ytl. I haven't seen any change so far this year.



Re transfer tax: buyers transfer reduction is 75% making it 1.5% of the 6% or 0.75% of the optional discounted 3% rate. This has been extended until 8th July 2008.





KDV is payable by the buyer if:

the vendor is a professional seller

the sales agreement states that it is the buyer's liability



KDV is not payable if:

the vendor is an amateur seller (sells 3 or less properties in any one year)

the vendor is a first-time seller

the sales agreement states that the vendor will pay it (which means that the sales price is inclusive of KDV)



More info can be found on the HBPG website: http://www.hbpg-trnc.net/



Sibel

nurseawful



Joined: 06/02/2009
Posts: 5934

Message Posted:
21/05/2009 22:46

Sorry KDV is payable, our builder has only ever built 5 villas since 2003 and we had to pay full whack! Not even 1 per year.

Don't worry about council tax it is a mere blip in the grand scale of things in other words it is really reasonable,

juliachcc


Joined: 15/04/2009
Posts: 79

Message Posted:
22/05/2009 21:58

Thankyou Sibel and nurseawful



So, not being a brilliiant (or even good) mathmatician, how much would the property tax cost on 1 3/4 donums purchased in July 2006? Assume that it is parselised, and that it was sold via an estate agent. Would the total figure for the transfer and taxes (since 2006) come to anything like £1500? Would the KDV be based on the "vendor" as being prof/semi prof, OR the land person who worked for an estate agency?



I have to say - I AM CONFUSED!



Juliachcc

juliachcc


Joined: 15/04/2009
Posts: 79

Message Posted:
22/05/2009 22:17

P.S



The £1500 is in addition to solicitors fees :(



juliachcc