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Three stages of real estate cadastral values reform in Latvia


Latvian government is changing the cadastral values of real estate and consequently also property taxes.

Prime Minister Krisjanis Karins promised that property tax will not climb too steeply as the reform is planned in three stages.

First, the cadastral value of properties would be adjusted to their market value.
Then analysis will follow to figure out how the new cadastral values will affect property taxes, and then the government will consider a reduction of property tax rates to prevent the taxes from rising excessively steeply and to ensure balanced tax payments in all Latvia.

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