Rundown Residential Properties Liable to Pay Vacancy Tax

May 8, 2021
real estate

A ny residential unit located in cities with a population of over 100,000 is considered vacant property, if it remains unoccupied for more than 120 days, and will be taxed.

Rundown residential properties (residential units that are considered old to a degree that only the underlying land is useful for construction) that cannot be rented will still be subjected to the vacancy tax, IRNA reported.

According to the law, the age of a building is not a criterion for its taxability.

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