How is KDV/Title Duty Calculated

[JBA]

When I first arrived in 2005, the house charges were calculated based on a valuationt by government staff - the estimate was always less than the actual value and the tax was calculated by converting the Sterling amount into tl at the then current exchange rate.

Then it changed so that the contract price was used and the tl was calculated at an average exchage rate for the year in which the contract was signed.

Then it changed again to a governmental valuation but that always produced a value higher than the likely sale value....and there I have lost track.

What is the situation now?

[the butlers wife]

Please can someone answer JBA, as I would love to know the answer to this question as well.



The butlers wife

[Deniz1]

Safer to ask your lawyer as every one will say something different.

[the butlers wife]

Umm! I wonder how much that will cost me?

[PoshinDevon]

Reckon it will be the third option in post number one.

Thats the one that will bring in the most amount of money when the transfer tax is applied!

[Deniz1]

If you email the lawyer it shouldnt cost anything.

[erol]

I do not know how it is calculated. However I did sell my old house and shortly after buy a new one in dec last year. There was no contract per se as we did the exchange simultaneous at the land registry (I signed over the deeds and they handed over money on the sale and similarly on the purchase they signed over deed and I handed over the money). The land registry assessment of the value of each property on which the transfer taxes were based in both cases were very close to the actual sale price. The buyer of my old property and the agent were both surprised by this and were expecting an assessed value of around 50-60% of the actual sale price. I do not know how the land registry arrived at the valuations they did. It was not on contract price as there was no contract. It may have been based on actual sale price but I do not recall in either transaction ever being asked by land registry what the actual sale price was. All I know is that on both transactions the land registry valuation was within 5% or so of the actual sale price.