Vilnius: the new rates of land tax

Vilnius: the new rates of land tax

The new land tax rates were approved in Vilnius. It will apply from 2014. The corresponding decree approved the Vilnius City Council, informs LETA. All tariffs will be calculated from the average market value of the land.

Owners of land with residential property will pay one of the lowest rates in Lithuania - 0.3%, while a higher rate (0.4%) applies to land in Vilnius, designed for commerce, industry and warehousing. Areas of unused land will be provided the rate of 3%.

Also the Vilnius City Council provides benefits to retirees, people with disabilities (0 to 40%) and minor children (for them will rely untaxed 0.1 hectare under the condition that the families of these landowners don’t have unable-bodied persons). In addition, the tax credit (70%) is created for those landowners, whose plots are no urban territories.