A new tax system is being introduced in the real estate sector to prevent tax losses. Starting in 2026, property transactions will be taxed based on the actual value (market value) of the property rather than the “rayiç bedel” (official value determined by the authorities) used in the current system.
According to a report in Türkiye Gazetesi, this change is being made to prevent tax losses that arise from the reliance on rayiç bedel in property sales. The new system will calculate taxes based on the real, actual market value of properties, aiming to ensure fairer taxation and improve public revenue in the real estate sector.
Key Details of the New System:
- Implementation in 2026: The change will be fully implemented in 2026.
- Real Value Calculation: Property sales will be taxed based on the actual sale value instead of the market value (rayiç bedel), which is often lower.
- Government Efforts: The relevant ministries have been working on increasing public revenues and ensuring tax fairness in the real estate sector. International examples of property taxation are also being studied.
- Technical Infrastructure: A new technical infrastructure will be developed to track property value changes and create property value maps. This system will integrate with the Land Registry and Cadastre Information System (TAKBİS).
- Legal Changes Required: After the technical infrastructure is in place, a law change will be needed to enable the taxation of property sales based on real values.
- Implementation Timeline: The shift to real value-based taxation is expected to be implemented by the end of 2026.
Current System:
Under the current system, both buyers and sellers are required to pay a 0.2% property transaction fee on the declared value of the property, which cannot be lower than its property tax value (rayiç bedel). If it is discovered that the declared sale value is lower than the actual value (or lower than the property tax value), the missing tax is collected from the parties with a penalty.
Additionally, according to the Income Tax Law, if a property is sold within five years of acquisition, the capital gains from the sale are subject to taxation. This gain is calculated by deducting the indexed purchase price, transaction costs, and exemptions from the sale price, and then applying income tax to the remaining profit.
