Jūrmala City Council has planned to apply the increased 3% real estate tax (REIT) rate for buildings that have exceeded the maximum duration of construction works and have not been put into operation from 1 January 2026 instead of 1 January 2024, as it was originally planned, LETA was informed.
The municipality explains that this decision was taken in response to the applications of the residents, the general economic situation in the country, including the sharp increase in EURIBOR rates, as well as problems with the timely execution of cadastral survey orders by the State Land Service.
From 1 January 2026, an increased rate of 3% will be applied to buildings not put into operation on time.
Therefore, the procedure for granting VAT on buildings not put into operation, as well as tax incentives, will remain unchanged in Jūrmala in 2024.
Given the relatively time-consuming process of completing the construction documentation, the municipality encourages residents to take advantage of this transitional period until 1 January 2026 and not to postpone the commissioning of the buildings until the last moment.
Read the full article https://www.db.lv/zinas/jurmalas-dome-atliek-nin-likmes-paaugstinasanu-ekspluatacija-nenodotam-ekam-514266
