In 2020, the Moscow authorities will not carry out a cadastral estimation of objects of residential and commercial properties. When calculating real estate tax is planned to use the indicators of cadastral cost for 2018. About tax breaks is spoken in the message published on the website of the mayor Sergey Sobyanin on Monday, July 27.

In the cadastral estimation of 2020 is impossible to consider the impact of the pandemic COVID-19, the report says. According to preliminary calculations, the cost of real estate in Moscow in the current year had increased 3 percent on average. “But it is clear that cadastral valuation of January 1, 2020 has nothing to do with the actual “rostkoviana” the real estate market. We do not yet know how the cost of real estate will react to the pandemic. And certainly no one now no extra money to pay the increased tax,” the mayor wrote.

So the city authorities decided not to hold a revaluation of property, he said. This will allow citizens to save on obligatory payments. “For owners of conventional apartments and country houses, the savings on property tax will range from several hundred to several thousand rubles, — underlined in the message. Business will save a significant amount — from several dozen to several hundred thousand rubles.”

In the aggregate tax burden on those who pay property tax, will drop by four billion rubles, according to city hall. The decision to hold regular cadastral valuation will be made in 2021, “when the real estate market will return to its normal condition,” the report States.

In early July, Russia proposed to increase the amount from which citizens can receive a tax deduction when buying real estate. Member of state Duma Committee on budget and taxes Yevgeny Fyodorov said that now officially working citizen can return personal income tax (13 per cent) from the amount to two million rubles, and amounts to three million rubles interest on the loan. In his opinion, these amounts are far from the real cost of housing, especially in Metropolitan areas.