KIEV, Jan. 20 – Kiev city’s draft budget for 2015 foresees UAH 50 million of projected income from tax imposed on properties other than land plots.

According to the draft decision of Kiev City Council on imposing local taxes and duties, it is proposed that the highest possible property tax rate should be 2%.

The tax rate for residential property depends on the type of property. Homes for seniors and disabled persons, children’s homes and boarding schools, shelters, reintegration centers, social adaptation centers, hospices, shelters for displaced persons and refuges for homeless persons are to be taxed at 0.01% of the minimum wage per square meter. Other residential properties will be taxed at 2% of the minimum wage per square meter.