Turnov increases property tax for households and businesses for next year

by   CIJ News iDesk III
2024-07-01   06:04
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Turnov, located in the Bohemian Paradise, has announced an increase in property tax for both households and companies for the upcoming year. This decision, made by decree, is expected to boost the annual income from property tax from CZK 39 million to CZK 50 million, helping to offset reduced income from shared taxes, according to Mayor Tomas Hocke (Independent Block).

In practical terms, the tax for a 65-square-metre flat will rise from CZK 766 to CZK 876. Similarly, for a family house with a built-up area of 100 square metres, which already pays CZK 980 after the government’s consolidation package, the tax will increase to CZK 1,120.

This year, households and businesses in Turnov, a town of 14,000 residents, have already seen an 80 percent increase in property tax due to the government’s package. However, some changes from the package will only take effect next year. Mayor Hocke explained that without local intervention, property taxes for permanent residents would have increased by another 42 percent while reducing taxes for vacation homes, garages, and businesses, which the city did not find fair.

“We sought a political consensus and found a solution that all city councillors supported. We agreed on a 14.3 percent increase for permanent residents instead of 42 percent. We will impose a significantly higher tax on recreational properties and garages, increasing them by 67 percent, and a 43 percent increase for businesses or those using property for business,” Mayor Hocke stated.

The property tax hike is intended to help the city compensate for the reduced revenue from shared taxes. Turnov is expected to receive about CZK 288 million from shared taxes this year, down from CZK 344 million without the government’s austerity measures. The increased property tax will cover about a third of this shortfall. Last year, Turnov received CZK 22.5 million in property tax, and this year, it anticipates an additional CZK 17 million.

Source: CTK

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