Tashkent, Uzbekistan (UzDaily.com) -- Property tax rates for housing facilities for individuals have been indexed by 11% compared to 2023.

Tax rates for residential real estate owned by individuals are set at the following levels:

- for residential buildings, apartments and country houses with a total area of up to 200 square meters inclusive, a parking space inextricably linked with an apartment building, as well as other buildings, premises and structures - 0.31%;

- for residential buildings and apartments located in cities:

- total area over 200 sq. m up to 500 sq. m – 0.41%;

- total area over 500 sq. m – 0.55%;

- for residential buildings and apartments, country houses located in other populated areas with an area of over 200 square meters. m – 0.41%.

The tax rate remained unchanged (1.5%) for taxable objects used for business activities, leased to a legal entity or individual entrepreneur, as well as for non-residential real estate objects intended for business activities and/or generating income.

At the same time, in order to fairly distribute the tax burden, the procedure for calculating the tax base for tax objects used for business activities, leased to a legal entity or individual entrepreneur, as well as for non-residential real estate objects intended for business activities and/or income generation, established as for legal entities.

That is, starting from 1 January 2024, the tax base of non-residential properties owned by individuals cannot be lower than the absolute minimum value per 1 square meter, established in the following amounts:

in Tashkent – 3 million soums;

Nukus and regional centers - 3 million soums;

other cities and rural areas - 1.2 million soums.

Taxpayers can engage independent appraisers to assess the value of real estate for tax purposes if the cost of 1 sq. m. of the object below the established minimum size. In this case, the results of the independent assessment will be recognized as the tax base.

Also, according to the changes, to determine the tax base for property tax, individuals can use the results of real estate assessments conducted by assessment organizations over the last 2 years.

In addition, the order of the minimum cost per 1 sq. m does not apply to facilities provided for the production and storage of agricultural products, for silkworm breeding, as well as to towers, bridges (overpasses), reservoirs (fire extinguishing structures, tanks), canopies, gazebos, concrete platforms and walls (curbs).