real estate and property tagged posts

Tax Could Cut Housing Cost in NZ

June 19, 2018 Taxation in New Zealand

property taxWELLINGTON – Taxes could result in significant decreases to New Zealand’s cost of houses, however, it would be accompanied by increases to the cost of renting.

New Zealand’s Westpac bank released the results of new modelling on June 19th, showing the potential impact that several property taxes will have on the cost of housing in the country.

The modelling was provided to the Tax Working Group, a government established working group tasked with examining the feasibility of a wide set of tax reforms for New Zealand.

Housing is a hot topic in New Zealand, as the cost of renting or purchasing housing has grown significantly over the last several years, seriously harming housing affordability across the country.

The bank’s researchers examined the potential impact of a capital gains tax ...

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Uzbekistan Says Grow Vegetables or Pay More Tax

March 28, 2018 Taxation in Uzbekistan

Chickens in UzbekistanTASHKENT – Taxpayers in Uzbekistan need to start raising chickens and growing vegetables if they do not want to see their taxes rise.

Last week the local media of Uzbekistan reported that the government has called for a hike to taxes for any landowners who do not use their land efficiently.

The new tax is not aimed at property developers or large-scale developers, but individuals and personal landholders.

The government is attempting to encourage landowners to plant gardens, grow their own vegetables, or raise animals.

The use of land will be evaluated by twice-yearly inspections, which will be conducted by police, tax inspectors, or local persecutors.

Taxpayers found to not be making efficient use of their land will see their property tax obligations tripled.

The call for the taxes o...

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Property Taxes Variation in the USA

March 1, 2018 Taxation in USA

property taxes in the USAWASHINGTON D.C. – Property taxes vary widely between each state in the USA, with a difference of almost USD 7 000 between the most expensive and cheapest state.

New information released in a report by WalletHub has ranked the property tax burdens faced by taxpayers across each state In the USA.

Based on the conclusions of the research the state with the cheapest effective real-estate tax rate in the country was Hawaii, followed by Alabama, and Louisiana, which had tax rates of 0.27 percent, 0.43 percent, and 0.51 percent respectively.

The highest rates were found in New Jersey, Illinois, and New Hampshire, with a rate of 2.40 percent, 2.32 percent, and 2.19 percent.

The rates were calculated based on the taxes which would be charged on a home with a value equal to USD 184 700, the median ...

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Property Taxes Shut Doors of Church of the Holy Sepulchre

February 26, 2018 Taxation in Israel

Church of the Holy Sepulchre, Jerusalem, IsraelJERUSALEM – Property taxes and land sales are at the centre of a growing dispute at one of the holiest Christian sites in Israel.

A dispute is escalating in Israel between Church of the Holy Sepulchre in Jerusalem and the national and municipal government, with taxation being at the centre of the disagreement.

The current culmination of the disagreement was the temporary closure of the Church to visitors, which was done as a protest by the Church against its perceived mistreatment by the state.

New regulations which are being enacted would remove the tax break currently enjoyed by the Church on all its properties.

The Jerusalem municipal authority is claiming that church-owned businesses and property which are not used as houses of prayer should not be able to enjoy a break from local p...

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Ghana Needs Drain Tax

October 3, 2017 Taxation in Ghana

The Drain (i)ACCRA – Ghana needs to tax property owners in order to fund anti-flooding measures.

The World Bank is recommending that the government of Ghana begins levying a new tax to help pay for the construction of drainage and anti-flood measures in the country.

The suggestion for a so-called drainage tax came after a tour of selected flood-prone areas by a working group at the bank.

It was suggested that a drainage tax be set up to be directly property owners, hotels, and individuals who live in flood-prone lowland areas.

In addition to funding flood-water drainage infrastructure, the funds raised by the tax could also be used to build and maintain wastewater disposal facilities in cities.

Flooding is a significant problem in Ghana, with recent floods in 2015 killing hundreds of people.

The gov...

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