On 24 February 2026, Joint Instruction No. 5, dated 19 February 2026, issued by the Minister of Finance and the Director of the State Cadastre Agency (ASHK), was published in the Official Gazette. This Instruction provides certain categories, as outlined below, with the opportunity to revalue their immovable property at market value.
Beneficiaries:
-Individuals who own immovable property (land and/or buildings) registered in their name, or who acquire ownership and register it by 31 December 2026;
-Individuals who own property that has been previously revalued;
-Legal entities that have immovable property recorded under tangible non-current assets in their 2025 financial statements.
How is the revaluation carried out?
1.Voluntarily, before the State Cadastre Agency (ASHK), at the local directorate where the property is located;
2.Through a licensed valuation expert.
Attention! If an individual owns more than one immovable property, the revaluation procedure must be conducted separately for each property.
Tax Base:
In order to carry out the revaluation, the revaluation tax must first be paid at the rate of 5% of the taxable base, in addition to the applicable service fee.
-If the revaluation is conducted through ASHK, it is based on the minimum fiscal values, namely the reference price for building property and the value map for land property;
-If the revaluation is conducted by a licensed expert, the taxable base is calculated as the difference between the value determined in the valuation report and the deductible value. In any case, it may not be lower than the minimum fiscal value;
-If the property is registered without a value, or the registered value is expressed in currencies such as gold francs or gold napoleons, as well as for buildings privatized under Law No. 7652, dated 23 December 1992, “On the Privatization of State-Owned Housing,” the deductible value shall be the utilization cost per square meter as determined by the applicable by-law for the National Housing Authority in force in the year of registration of the immovable property;
-For buildings acquired through inheritance, donation, or waiver without value, the deductible value shall be the utilization cost per square meter determined by the applicable by-law for the National Housing Authority in force on the date of registration of the respective act;
-For land, if no value is recorded upon registration, the deductible value shall be calculated by indexing the land price according to the value map with the average annual inflation rate for the year in which ownership was acquired, in accordance with Annex No. 1 attached to Joint Instruction No. 34/2023.
Within 5 days from the verification of payment of the revaluation tax and service fees, the local directorate of ASHK must make the relevant entries in the immovable property registers.
What can we do for you?
If you wish to benefit from this Instruction, we are available to assist you throughout all stages of the process.
