From January 1, 2026, the revaluation of assets begins - Builders: The "market value" should be clarified! The effect should be extended until December
The Builders Association has suggestions regarding the draft decision on property revaluation, which is currently in the public consultation phase.
According to the draft, all individuals who own real estate have the right, from January 1, 2026 to September 30, 2026, to revalue their property at market value. But through an official letter addressed to the Ministry of Finance, the association emphasizes that the draft law does not clearly define what is meant by "market value", nor the sources or criteria on which it will be determined.
According to the Builders Association, this may lead to non-uniform application and tax inequality, as the assessment may vary according to different interpretations of the tax administration or licensed experts. At this point, the need for clear standards is emphasized to avoid subjective interpretation, as the lack of a clear definition brings practical uncertainty, whether the reassessment will be based on: the real prices of recent sales in the relevant area or on the reference prices approved by the Council of Ministers.
The draft decision also states that requests for revaluation submitted to the State Cadastre Agency, which have not been processed by September 30, 2026, are considered subject to revaluation under this law, if the tax payment for them is made by December 31, 2026.
Regarding this article, the Builders Association states that it may happen that requests submitted on time (until September 30, 2026) are not processed by ASHK due to workload, lack of staff or additional verifications. If the request is not processed by December 31, 2026, the citizen may not be able to make the payment, even though he has fulfilled the legal obligation to submit on time. According to the Association, this situation constitutes a violation of the citizen's right, since the delay does not depend on him. In such cases, it is suggested that the taxpayer maintain the right to benefit from the law, if the request was made within the deadline but was not processed by ASHK for administrative reasons.
Article 5 of the draft states that the law extends its effects from January 1, 2026 to September 30, 2026. Referring to this article, the Builders Association emphasizes that requests submitted to the ASA and not completed within the specified deadline are considered subject to reassessment if the tax payment is made by December 31, 2026. While Article 5 limits the effects of the law to September 30, 2026, creating a logical discrepancy between the deadline for submitting the request and the deadline for completing the payment. For this reason, it is proposed that the law extend its effects until December 2026, regardless of the deadline left for requests for reassessment.
The revaluation of assets is foreseen to be done for housing at 5% of the market value.
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