The Real Estate Tax Law General Communiqué prepared by the Ministry of Treasury and Finance and the Ministry of Environment, Urbanization and Climate Change was published in the Official Gazette.

With the Communiqué, the normal construction cost per square meter for the next year was determined to be the basis for the property tax.

Accordingly, the minimum and maximum limits of the normal construction cost per square meter for luxury constructions in terms of residential buildings are 5 thousand 231.32 liras and 11 thousand 466.86 liras, 2 thousand 207.70 liras and 7 thousand 668.25 liras for first class constructions. It will be between 1555.23 liras and 5 thousand 195.37 liras for second-class constructions, between 525.34 liras and 3,538.46 liras for third-class constructions, and between 249.97 liras and 1595.81 liras for simple constructions.

With the Communiqué, the square meter normal construction costs of buildings such as factories, hotels, hospitals, cinemas, banks, schools and pools were also rearranged.

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