Property tax will increase by 75% in 2025 and 100% in 2026
Property tax rates will continue to rise in 2025.
Changes were made to Armenia’s Tax Code back in 2020. According to the amendments, starting from 2025, citizens will pay property taxes that are 75% higher, and from 2026, they will be required to pay the full 100% amount. Although the government assures that the additional tax burden will mostly affect owners of high-value properties.
Compared to previous rates (before 2021), the tax has increased several times. A real estate tax calculator has been created, which allows citizens to calculate the amount of property tax they need to pay. The map of Yerevan has been divided into 1-20 tax zones. The average price of property in each zone was taken, and it was then reduced by 20%. For example, in the first and most expensive zone, the cost of 1 square meter was set at 330,000 AMD, while in the cheapest 20th zone, it is 92 AMD.
It is worth mentioning that the increase in property tax in Armenia began in 2021. Since December of that year, a 25% charge has been applied to property tax, 30% in 2022, 35% in 2023, and 50% in 2024. This year, the tax will be 75%, and in 2026, it will reach 100%. This means that over the next 2 years, property tax will increase by another 50% compared to 2024, with an annual rise of 25%.