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Real estate value
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16/05/2024
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Real estate value
Real estate has a cadastral and market value. The cadastral value of a real estate property is the result of the assessment of the property obtained on a certain date, determined on the basis of pricing factors. Market value is the price of a property for which it can be sold, taking into account all its features and current position in the market. The cadastral value is necessary for calculating the amount of real estate tax, calculating the amount of tax in the case of purchase and sale (rent, exchange of housing), registering the right of inheritance for housing, determining the price when exchanging this object for an equivalent one, and drawing up a gift agreement for real estate. The difference between cadastral value and market value is that when calculating the value of the former, individual characteristics are not taken into account, for example, the state of repairs and plumbing, view from the window, floor and others. Thus, the main difference between the two types of value is that the concept of market value is broader. When determining it, demand in the real estate market and the condition of housing matter, while the cadastral value is determined by the pricing policy of a particular region. In addition, the cadastral value is established by the state body, and it affects the taxreal estate rate.
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