Total real estate inventory offered in Azerbaijan
Baku, Fineko/abc.az. NGO Economic Research Center (ERC) has submitted to the government a proposal for inventory assessment of real estate in Azerbaijan.
ERC head Gubad Ibadoglu says that such assessment is important for efficient collection of property tax by organs of local self-government.
This is the biggest problem for municipalities. The problem is that they have no idea about the prices of real estate – their inventory value. That especially concerns regional municipalities. All this will eventually causes problems with collection of property taxes. Drawing of independent appraisers does not justify costs, because their services are more expensive than the profit from collection of taxes, Ibadoglu said.
He points out that NGOs’ proposal is that government agencies should deal with appraisal of real property at the first stage.
They can carry out nationwide inventory of property. The State Committee for Property Affairs has such resources, as in each region there is a service of state register of real estate. The Committee can issue certificates indicating the value, Ibadoglu said.
Tags: Real Property