What is a tax assessment? 📃

19 Sep 2022

Reading time: 1 minutes

When do we need a property tax assessment?

For transactions such as purchase and sale, donation, establishment of a mortgage, including credit refinancing, a Property Tax Assessment Certificate is required. Unfortunately, this is also the document that creates quite a few headaches for owners. There are several reasons. From the seller's ignorance of the mandatory requisites of this document and omissions in the declaration of data changes, to the extremely frequent technical errors made by employees issuing tax assessments. 

As a result, it is a common practice for the property owner to walk around several times for one document. This is definitely an unnecessary waste of time and nerves. Even more unpleasant are the cases when it is necessary to urgently obtain the tax assessment of a property, and this, due to the unpreparedness and ignorance of the seller, turns out to be impossible.

Why is it necessary?

Let's hypothetically imagine that you have obligations to the state related to the property. Until you pay them, you cannot dispose of it. Accordingly, you cannot get a loan to mortgage it. A rudimentary, yet extremely efficient method of tax collection.

The certificate itself is issued by the relevant tax office of the municipality - according to the location of the property. It is possible to be issued a tax assessment certificate even without having paid the taxes and fees due to the state or municipality. This is possible only if you sign a declaration in which you declare the existence of these obligations. It is also necessary to have the consent of the buyer of the real estate to transfer part of the amount under the sales contract, corresponding to your public obligations until the conclusion of the transaction, to the relevant account in the state or municipal budget.

What will you need to get this document?

You must complete an application form for a certificate of property tax assessment. You must bring an original title deed to the site and you will need to attach a copy of it. In case you received the property by inheritance, you also need a certificate of inheritance.