The inventory value of an apartment is one of the most significant parameters taken into account in case of sale or purchase of real estate. It is used to determine the fees and taxes that are paid by the property owner.
In what cases do you need to know the inventory value?
This indicator will be required in the following cases:
- when selling real estate;
- upon privatization of housing;
- when buying an apartment or house;
- in case of exchange of real estate;
- when making a gift certificate for housing.
It is taken into account when calculating property tax. It is paid by the owner without fail during various operations established by law. Government agencies have developed a special system for determining this value. It has differences from the market scheme, as it is used in special government calculations.
Inventory cost of an apartment: how to find out?
To find out the cost, you need to contact the Bureau of Technical Inventory. To do this, you need to bring along identification documents, as well as proof of ownership of real estate. In this institution, a statement of intent is prepared to receive a document that indicates the inventory and cadastral value of the apartment, depending on the need.
Services provided must be paid. For help you need to return on the appointed day. After the assessment, the client receives the result. It will indicate the numbers that characterize the inventory cost of housing.
The report also contains the date of the procedure, its objectives and applicable standards. In addition, it includes information that affects the understanding of the results of the analysis. If the client is not satisfied with the result, he has the right to go to court. Contradictions and ambiguities will be interpreted in favor of the taxpayer.
Billing
The inventory value of an apartment is determined based on the replacement cost of the entire house. These data are also available at BTI. The residual value of 1 m also applies.2 of the total area of the building with the use of its coefficient, which is established according to the data of local higher authorities in each quarter.
It is worth noting that the inventory value of the apartment is part of the value of the object at the date of the assessment, which is not transferred to the products. This means that it can be calculated by subtracting the amount of depreciation from the replacement cost. The recovery rate of the facility depends on current prices for 1 m2 in a particular building, ratios and conversion indices. At the same time, it is important to make estimates at the prices valid in a particular area.
How to calculate the inventory cost yourself?
To correctly calculate this indicator, you must perform the following steps:
- calculate the base replacement cost of real estate using a collection of prices;
- recalculate the cost of housing from the base prices attributable to the year of the assessment using the recalculation coefficient;
- according to the latest inventory, it is necessary to determine the physical deterioration of the building and calculate its indicator;
- the difference between the cost of housing from base prices and physical depreciation will be the actual inventory value.
Thus, the inventory value of the apartment is calculated, which will be necessary for the behavior of real estate transactions stipulated by law. On its basis, property tax can be established.
