LAW OF THE REPUBLIC OF ARMENIA

of February 9, 2021 No. ZR-23

About entering of amendments into the Law "About Establishment of Procedure for the Cadastral Real Estate Appraisal Which Is Brought Closer to Market Value for the purpose of Taxation on the Real Estate"

Accepted by National Assembly of the Republic of Armenia on January 20, 2021

Article 1. No. ZR-225 "About establishment of procedure for the cadastral real estate appraisal which is brought closer to market value for the purpose of taxation on the real estate" (further - the Law) to add article 4 of the Law of November 19, 2019 with part 14 of the following content:

"14. The list of classification of purpose of structures establishes the Government.".

Article 2. To add part 2 of article 5 of the Law with Item 10 of the following content:

"10) basic cost of one square meter of the area of structure (to internal measures) (Сбс) is established in the amount of 700.000,0 (seven hundred thousand) of dram of the Republic of Armenia.".

Article 3. To add article 6 of the Law with part 4 following of content:

"4. The prices calculated in the stipulated in Clause 3 presents of the Law procedure for the cadastral assessment of the parcels of land (except for lands of agricultural purpose) which is brought closer to market value for the purpose of taxation on the real estate in the cases established by parts 9, of the 10 and 12 Article 64 of the Land code of the Republic of Armenia are the basis for payment of cadastral cost of the parcel of land, since January 1, 2022.".

Article 4. To add article 7 of the Law with parts 3-9 of the following content:

"3. Sale of the parcels of land based on the decisions on direct sale of the parcels of land made by the head of community according to requirements of the Land code till December 31, 2020 is made at the cadastral cost operating at the time of adoption of this decision.

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