An honored Russian Federation lawyer, Ivan Solovyov, indicated that property taxes are set to rise in 2024. He spoke about this in a recent interview with the information agency Hit the primer, outlining how the tax landscape is changing in the new year.
Solovyov noted that Russia has completed a cadastral revaluation of real estate, and the results show an average increase in property values of roughly 20 to 25 percent. The upward shift in cadastral assessments is expected to drive higher property tax calculations for the upcoming year, making homeowners reconsider their budget planning for 2024 and beyond. This reassessment affects not only the tax bill itself but also related charges and obligations that hinge on cadastral value, creating a broader effect on home and asset expenses. [citation attribution]
The lawyer reminded property owners that, by law, a one-time tax increase cannot exceed 10 percent. Yet, other charges tied to the cadastral value can rise significantly, including state duties, rent payments, reimbursement salaries, and expenses not directly linked to the value but connected to the upkeep of property — such as maintenance and repairs. These elements can collectively push annual housing costs higher than anticipated, even when the initial tax hike is capped. [citation attribution]
Solovyov advised apartment and house owners to proactively verify the new cadastral value of their properties and to estimate, with reasonable accuracy, the likely tax payment due by December 2025. This proactive approach would allow households to adjust financial plans, save for potential increases, and seek counsel if discrepancies are found in the new assessments. [citation attribution]
Earlier reports indicated that rental housing prices in major Russian cities had risen by about a quarter in the previous year and were expected to continue climbing. This trend aligns with broader shifts in the housing market, where demand, supply constraints, and updated valuation rules collectively influence rental rates and affordability for residents across large urban centers. [citation attribution]
Meanwhile, President Putin had previously signed legislation related to the delivery of pensions solely through the Russian Post, a move aimed at centralizing certain administrative processes. The change is part of ongoing reforms affecting social support systems and financial administration, with implications for recipients and service delivery in the housing and tax ecosystems. [citation attribution]