Property Tax in Turkey

Foreigners and Turkish citizens are taxed equally according to the Tax Procedure Law.

When you sell your property, 4% of the property tax is paid over the declared property.

Local Property Tax will be paid 2 installments, first in May, and second in November (can be paid at once). The tax rate varies according to where you are and the type of property. Tax for the residences is 0,2%, tax for commercial premises is 0,6%, and for the vacant land is 0,2%.

Revenue Tax is paid in the following cases:

• Rent income;
• Capital Gains Tax is a tax on profits that exceed the purchase price paid by the seller. Taxable property is not exempt from taxation for more than five years.

Progressive income tax system is applicable in Turkey. The tax exempt income from the property is 3,900 TL (2018 official rates). All profits above this level are taxable. Tax rates range from 15% to 35%. Higher profits charged with higher tax rates.

The penalty for late payment is 1.4% per month.