Photo from UNIAN
It is to start working in June.
The State Property Fund of Ukraine (SPF) is completing the development of a single database for real estate assessment.
"We are now completing this process. I think that starting from June, we will move on to new frontiers ... According to our data, when this system starts working, the state and the national budget will be able to additionally get from UAH 2 billion to UAH 3 billion (from US$76 million to US$115 million)," acting SPF head Vitaliy Trubarov told Channel 5.
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The new database is being created in keeping with the Budget Code of Ukraine and in line with new approaches to valuation for taxation, he said.
According to him, the introduction of this tracking system provides that apartments in the central parts of major cities cannot be sold at a reduced price – their value will be pegged to the indicators that will be used by a specific program.
"Appraisers will do their work by entering data into this program. If the data is within the indicative parameters mentioned there, then the work is done and the notary can register [a deal]. If it is not, the deal cannot be completed," Trubarov said.
As UNIAN reported, the SPF in April developed new rules for assessing state property in accordance with the new privatization law and sent them to the Cabinet of Ministers for approval.