Property Taxes Set to Increase: Who Will Be Affected? Fact

The newspaper 'Fact' reports that recently, the Armenian government approved a draft law which will introduce a unified property assessment and taxation system across the country. The draft package will soon be sent to the National Assembly.

As a result of the anticipated changes, property taxes are expected to rise significantly. In an interview with 'Fact', Anna Makaryan, an expert from the Center for Economic Development Initiatives, noted that the increase in property taxes would impact every citizen, particularly vulnerable groups, including households that will see their income remain at the same level.

'It is important to note that the increase in property tax will also affect the business sector, including production facilities, large commercial centers, hotels, restaurant complexes, business centers, as well as educational and healthcare institutions. This may lead to a chain of price hikes. In the case of price increases, the most vulnerable groups will still suffer the most,' emphasized the expert.

For more details, see today's edition of the newspaper.