Determining the taxable value of property
Property groups and valuation methods:
1️⃣ Commercial, public buildings (office, retail, hotels, services, etc.) – valued using the comparative or income approach (mass valuation).
2️⃣ Residential buildings and their annexes (flats, houses, garages, garden houses, etc.) – comparative method (mass appraisal).
3️⃣ Properties in Groups 1 and 2 with missing cadastral data are valued using the cost method with a location correction factor.
4️⃣ Real estate in the maritime area and part of the civil engineering structures – cost approach.
5️⃣ Other civil engineering structures and other property not falling into Groups 1-3 – cost method with location adjustment factor.
Personal income tax returns
From 1 January 2026. On 1 January 2026, the VMI will prepare individuals’ own NIC returns.
What’s changing?
– The deadline for submitting the declaration is 1 March.
– The deadline for paying the VAT is 15 March.
– Married couples are taxed separately – each receives their own return.
– You won’t have to pay tax if the total amount of the property you own doesn’t exceed €5, in which case VMI won’t prepare a tax return.
