YEREVAN. – Real estate taxes in Armenia don’t go to the state budget, but to the community budget. Sarhat Petrosyan, Head of the Committee of Real Estate Cadaster, stated about this at Wednesday’s National Assembly debates regarding the bill on defining the procedure for calculating the cadaster brought closer to the real estate market value for real estate taxation.

“After our proposed amendments (…) [the price of] expensive real estate in our country will increase virtually eight-fold,” Petrosyan stressed, in particular.