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LAW OF THE REPUBLIC OF ARMENIA

of December 3, 2019 No. ZR-225

About establishment of procedure for the cadastral real estate appraisal which is brought closer to market value for the purpose of taxation on the real estate

(as amended of the Law of the Republic of Armenia from 09 02.2021 g No. ZR-23)

Accepted by National Assembly of the Republic of Armenia on November 19, 2019

Article 1. Subject of regulation of the Law

1. This Law regulates procedure for the cadastral real estate appraisal which is brought closer to market value for the purpose of taxation of the real estate tax.

Article 2. Law coverage

1. Operation of this Law extends to the legal relationship which are subject to regulation for the purpose of taxation on the real estate.

Article 3. Procedure for the cadastral assessment of the parcels of land (except for lands of agricultural purpose) which is brought closer to market value for the purpose of taxation on the real estate

1. The cadastral cost of the parcels of land (except for lands of agricultural purpose), brought closer to market value, for the purpose of taxation on the real estate, is calculated by the following formula:

Sz = Szb x Pz x Kz

where:

Sz – the cadastral cost of the parcels of land (except for lands of agricultural purpose) which is brought closer to market value for the purpose of taxation on the real estate;

Szb – basic cost of one square meter of land area (except for lands of agricultural value);

Pz – the area of the estimated parcel of land in square meters;

Kz – coefficient of zonality of spatial assessment (location) of the parcels of land (except for lands of agricultural purpose).

2. Basic cost of one square meter of land area (except for lands of agricultural value) (Szb) is established in the amount of 330.000,00 (three hundred thirty thousand) of dram of the Republic of Armenia.

3. Coefficients of zonality (Kz) of spatial assessment (location) of the parcels of land (except for lands of agricultural purpose) are established in the following sizes:

 

Zone

Coefficient

1

1.0

2

0.65

3

0.4225

4

0.27463

5

0.17851

6

0.11603

7

0.07542

8

0.04902

9

0.03186

10

0.02071

11

0.01346

12

0.00875

13

0.00569

14

0.00370

15

0.00240

16

0.00156

17

0.00102

18

0.00066

19

0.00043

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