Property tax is a tax that is established on the property of individuals and organizations. It is worth considering in detail both categories.
Payment of tax by individuals
Payers of the tax in question are private individuals. At the same time, they should be the owners of property that relates to taxable items. Payers can be citizens, foreigners and stateless persons. Before calculating property tax, you need to find out which objects will relate to it.
Residential buildings, rooms, apartments, open-type buildings and structures that are the property of individuals are subject to taxation. In addition, property rights in the considered types of property will be taxed.
The tax base
The tax base for the tax in question is the total inventory cost of the structures, determined on January 1 of each next year. Having examined this material, you can learn how to calculate the property tax on individuals.
The total inventory value is the sum of the corresponding values of taxable items located in the territory of the local state body that is authorized to set rates for this tax.
Inventory value is the replacement cost of property, taking into account the dynamics of prices for building products, as well as depreciation. Therefore, before calculating property tax, it is required to determine the indicators of which it consists. The total inventory value must be determined separately, depending on the type of application of the property, if the tax rate for private individuals, the municipality differentiates depending on whether residential property or non-residential. In another case, the total inventory value is calculated for all objects as a whole.
Real Estate Law
This year, a new law on real estate entered into force in Russia. According to him, property tax is required to be determined using the cadastral value of housing. Despite the adoption of the law, the regions will not be fully transferred to the new system until January 1, 2020. For this reason, before calculating the property tax at the cadastral value, it is worthwhile to understand that it is still determined using the inventory value. After the transition to this system, the tax amount will be increased in accordance with the value of the property.
According to the innovation, the tax rate depending on the cadastral value indicator for residential buildings will be:
- up to 10 million rubles, the rate will not exceed 0.1%;
- up to 20 million p. it will be 0.15%;
- up to 50 million p. the rate will be 0.2%;
- up to 300 million rubles, it will not exceed 0.3%;
- at a cost of 300 million rubles, the rate will be equal to two percent.
Before calculating the amount of property tax, it is also necessary to take into account the region in which the property is located. For example, for Moscow, the Southeast Administrative District is the most accessible, if we consider it from the point of view of taxation.
Fixed rate
Today, tax rates with the highest level are set at the federal level. With a total inventory value of less than 300 thousand rubles, the tax rate on the property will be 0.1%. Up to half a million rubles - will reach 0.3%. If this amount is exceeded, the rate will be from 0.3% to 2%.Each municipal institution sets its own tax rates. They are given the opportunity to differentiate them within the limits established by law and depend on the total inventory cost and type of application of the object.
Before calculating property tax, it should be borne in mind that its amount depends on the number of property owners. The tax should be paid in proportion to the share of the individual in the building.
Payment of tax by organizations
Corporate property tax is a tax levied on movable and immovable property. At the same time, property included in joint business activity or transferred to temporary disposal, use, trust management is also included.
Corporate property tax is a regional tax. Its payers are domestic and foreign companies operating in Russia. Moreover, they own property and have permanent missions.
Tax base in relation to property of organizations
In accordance with the Tax Code, the tax base is established for both domestic and foreign companies.
- For property that is subject to depreciation. In this case, its residual value is applied, formed by observing the accounting procedures available in the accounting policy of the company.
- For property that is not subject to depreciation. The value of objects that are indicated for tax purposes is used. It represents the difference between the initial price of the property and the amount of depreciation received at the established rates of deductions for accounting in the reporting period. It includes housing facilities, forestry, external beautification, etc.
To calculate the property tax of an enterprise, it is necessary to determine the value as the quotient of dividing the amount that is formed by adding its residual value to the first day of each next month in the reporting period and the amount to the first day of the month that follows this period by the number of months in tax period.
The tax base in respect of real estate of foreign companies that are not engaged in activities through representative offices, operating constantly, is the inventory value determined by authorized bodies. This also applies to the property of these organizations, which does not apply to their activities.
Corporate property tax rate
The tax rate in this case is set by authorized entities. It should be borne in mind that it cannot be more than 2.2%. When determining how to calculate the property tax of organizations, one should take into account the fact that differentiation of rates is allowed depending on the type of property and the category of taxpayers. In the capital, the tax rate is set at the maximum amount for absolutely all categories of taxpayers.
Tax benefits
The tax code establishes tax incentives. They constitute a full exemption from payment. This condition applies to certain types of property and certain categories of taxpayers. The tax exemption applies to both individuals and enterprises. Benefits of this type are determined by Art. 381 of the Tax Code.
Knowing how to calculate property tax, you can avoid violations of the law. This will not only simplify the calculation procedure, but also allow timely payment.
