{"id":112538,"date":"2026-04-15T19:22:18","date_gmt":"2026-04-15T19:22:18","guid":{"rendered":"https:\/\/elvprojektai.lt\/uncategorized\/tax-value-and-declaration-of-property\/"},"modified":"2026-04-15T19:22:23","modified_gmt":"2026-04-15T19:22:23","slug":"tax-value-and-declaration-of-property","status":"publish","type":"naujienos","link":"https:\/\/elvprojektai.lt\/en\/news\/tax-value-and-declaration-of-property\/","title":{"rendered":"Tax value and declaration of property"},"content":{"rendered":"\n

Determining the taxable value of property<\/strong><\/p>\n\n

Property groups and valuation methods:<\/strong><\/p>\n\n

1\ufe0f\u20e3 Commercial, public buildings<\/strong> (office, retail, hotels, services, etc.) – valued using the comparative or income approach (mass valuation).<\/p>\n\n

2\ufe0f\u20e3 Residential buildings and their annexes<\/strong> (flats, houses, garages, garden houses, etc.) – comparative method (mass appraisal).<\/p>\n\n

3\ufe0f\u20e3 Properties in Groups 1 and 2 with missing cadastral data<\/strong> are valued using the cost method with a location correction factor.<\/p>\n\n

4\ufe0f\u20e3 Real estate in the maritime area and part of the civil engineering structures<\/strong> – cost approach.<\/p>\n\n

5\ufe0f\u20e3 Other civil engineering structures and other property<\/strong> not falling into Groups 1-3 – cost method with location adjustment factor.<\/p>\n\n

Personal income tax returns<\/strong><\/p>\n\n

From 1 January 2026. On 1 January 2026, the VMI will prepare individuals’ own NIC returns. <\/p>\n\n

What’s changing?<\/strong><\/p>\n\n

– The deadline for submitting the declaration<\/strong> is 1 March.<\/p>\n\n

– The deadline for paying the VAT<\/strong> is 15 March.<\/p>\n\n

– Married couples <\/strong>are taxed separately – each receives their own return.<\/p>\n\n

– You won’t have to pay tax <\/strong>if the total amount of the property you own doesn’t exceed \u20ac5, in which case VMI won’t prepare a tax return.<\/p>\n

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