Local budgets receive almost UAH 5 bln in revenues from real estate taxes in 2019

Local budgets receive almost UAH 5 bln in revenues from real estate taxes in 2019

Ukrinform
In 2019, local budgets received UAH 4.9 billion in revenues from real estate taxes, which is UAH 1.2 billion more than in 2018, according to the Finance Ministry.  

"Local budgets received UAH 4.9 billion from the payment of real estate taxes in 2019, and UAH 3.7 billion in 2018," the statement reads.

Failure to pay taxes on real estate and non-residential property, due to the lack of a complete database of taxable objects in the State Register of Property Rights to Immovable Property causes up to UAH 2 billion in losses to local budgets annually.

According to experts, up to 40% of such property is missing in the State Register.

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