Annual property tax for around 200,000 apartments will not exceed 5,000 drams: Tunyans

Babken Tunyans, a member of the "My Step" faction in the National Assembly, writes on his Facebook page: "By comparing the data at my disposal, I attempted to provide as detailed an explanation as possible.

Out of 432,000 apartments in Armenia, 93% or 402,000 will have a new cadastre value of up to 30 million drams and will pay an annual property tax of up to 30,000 drams. Among them, the annual property tax for approximately 200,000 apartments will not exceed 5,000 drams per year.

Moreover, property taxes will be paid at the aforementioned rate in 2026, while next year, payments will be four times lower and will gradually reach the full amount over six years."