Today, the tax rate on real estate in Latvia based on the cadastral value of 0,2% -0,6%, but by next year it could be increased to 1,5%.
Increase of tax rates is considered by the Ministry of Finance.
The basic tax rate of 1,5% will be introduced from 1 January next year.
Source: http://www.mixnews.lv/ru/economics/news/2012-09-18/106037