According to the legislation, as reported by “obozrevatel”, the maximum allowable area for an apartment is 60 square meters, while for a house it is 120 square meters. Taxes for this year are calculated based on data from 2024, as stipulated in Article 266 of the Tax Code of Ukraine.
The calculation is tied to the minimum wage, which is set at 7100 UAH starting from January 1, 2024. The tax rate per square meter is capped at 1.5% of this amount, resulting in a maximum charge of 106.5 UAH for each additional square meter exceeding the specified thresholds.
Taxes apply to individuals who own real estate that exceeds the established norms. However, only the excess square meters are subject to taxation.
For instance, if the area of an apartment is 100 square meters, only 40 square meters exceeding the threshold of 60 square meters will be taxed. Similarly, for a house with an area of 150 square meters, tax will only be applied to the 30 square meters that exceed the limit of 120 square meters.
The tax is determined based on the total area of the property, not the living area. If a property has multiple owners, the tax exemption applies to each co-owner individually. For example, if a 100 square meter apartment is jointly owned by two people, each owner is entitled to a tax exemption for 60 square meters.
Since each co-owner effectively owns 50 square meters, no tax is levied.
The law also establishes additional rules for high-value real estate. If the total area of an apartment exceeds 300 square meters or a house exceeds 500 square meters, an additional fixed tax of 25,000 UAH per year is charged, regardless of the standard rate.
Tax exemption is also possible under certain conditions. Owners of apartments up to 60 square meters, houses up to 120 square meters, or a combination of properties not exceeding 180 square meters are not subject to taxation. These provisions are detailed in the Tax Code.
Tax notifications are sent out by July 1 of the current year. Property owners are required to make timely payments to avoid penalties. If a payment is delayed by up to 30 days, a penalty of 10% of the total tax amount is added.