The launch of the public consultation process on the cost adjustment was announced on January 26 by Ivan Danii, Director General of the Agency of Geodesy, Cartography and Cadastre.
During the press conference, he specified that the Agency has assessed and reassessed the cadastral value of real estate objects throughout the country and presented the results on the geodata.gov.md page. Citizens can check them, and in case of disagreement with the included technical characteristics of the housing they own, they can file objections within 90 days. This period will end on April 30, followed by the stage of verification of objections and official notification of citizens about the cadastral value of real estate.
Citizens who have questions or who do not have access to the Internet can contact territorial cadastral services in districts or cities, as well as mayor’s offices to get the necessary information about the results of the revaluation.
Approval of the new cadastral value of real estate will be completed by the end of October this year.
Ivan Danii emphasized that the new cadastral values bring the market closer to the current economic realities. The last universal valuation was carried out in 2004-2011, and some real estate objects were not valued at all, such as residential houses in villages and agricultural land. And the rest do not correspond to the market situation – apartments in high-rise buildings, residential houses in cities, dacha cottages, garages, as well as commercial and industrial real estate.
He also said that the government plans to assess and revalue real estate every three years. And emphasized the advantages of this for citizens. For example, citizens will not have to order individual appraisal reports to determine the value when making a sale and purchase transaction, registration of inheritance or gift. There will be fewer additional payments at the notary’s office.
At the same time, the new cadastral value indicators can be used by local authorities to strengthen local budgets. It is expected that most of the assessed values constituting the taxable base will increase several times compared to the last assessment made in 2005. Therefore, local authorities will have to analyze the impact of the current taxation rates and adjust them if necessary.
