Real estate tax incentives

In accordance with the Valka Municipality Council’s 08.30.2012 binding regulations Nr.20 “About real estate tax incentives in Valka district”, the real estate tax (hereinafter - RET) incentives can be obtained for:

• Legal persons, owning industrial production buildings, of industrial buildings (the main building use, code 1251), if the main form is production and they have saved jobs 80% relative to the average number of jobs in the previous taxation period – 25% from the real estate tax sum.

• Legal persons:
 if a person is constructing infrastructure facilities for public use of their financial resources in Valka district, which are excessing the amount of real estate tax for the current year, before signing a relevant contract with the municipality – 90% of real estate tax sum.
 if a person is constructing production facilities to create workplaces in Valka district with their own funds making investments, which are excessing the amount of real estate tax for the current year, two years after the production facilities are transmit in exploitation – 90% from the real estate tax sum.

• Newly formed companies, entrepreneurs, economic operators for their buildings – two years after the company or business establishment has started production in Valka district, if the factory’s annual average number of employees is not less than 3 workers, 50% of real estate tax sum.

• Product manufacturing companies, if the Personal Income Tax in the previous taxation year exceeds EUR 21343.08 – 25% of real estate tax sum.

• Natural and legal persons for their land, which is needed as green space for public use (property’s target use code 0501 - natural base, parks, green areas and other recreational importance object areas, if the allowed economic activities are not classified in another classification purpose of use) – 90% of real estate tax sum.