You own a home or an apartment? 2 days left to pay the property tax

The deadline for the payment of the 4th instalment of the property taxation is approaching mid-November and the consequences of the hold in the regulation of this work may be significant. It is crucial to realize that in case of late payment of the property taxation in 2023, interest will be charged on late payment.

The amount of interest for late payment of property taxation depends on the applicable pawnshop rate established by the Monetary Policy Council. Currently, the pawnshop rate is 6.5 percent, which means that interest on hold is the equivalent of this rate plus 200 percent. However, the amount of interest on late payment may not be little than 8 percent.

There is besides the anticipation of paying property taxation in instalments, but this is simply a privilege that only any taxpayers have. In most cases, individuals with taxation obligations exceeding PLN 100 may benefit from this option. On the another hand, entrepreneurs for whom a instalment payment is available must regulate their obligations in 12 instalments starting in January.

Property taxation 2023. 4 payment deadlines for instalments

The right to pay the property taxation in instalments is simply a privilege which is granted only to a circumstantial group of owners of houses and apartments in Poland. This is usually exercised by natural persons and only by taxpayers whose taxation obligations amount to at least PLN 100. These taxpayers are obliged to settle the full amount of the taxation until 15 March of that year.

However, in most cases, property owners pay higher amounts of property tax, which opens up the anticipation of utilizing 4 statutory instalments:

• First instalment: until 15 March;
• Second instalment: until 15 May;
• Third instalment: until 15 September;
• Fourth installment: until November 15.

Thus, the deadline for payment of the last, 4th instalment of the property taxation in 2023 is coming. The same besides applies to corporate obligations. Entrepreneurs must besides settle 1 of the instalments by 15 November, but for them this is not the last tranche of payment. In the case of companies, the real property taxation payment means 12 instalments, spread 1 per month. It is worth noting that payment for January is timely until 31 January.

How much is interest for late payment of tax?

The Act provides for sanctions for those who neglect to meet the payment deadline or do not regulate the property taxation at all. First of all, you can anticipate to charge interest for each day of hold that will be transferred to the municipality account.

These interest rates depend on the current pawnshop rate established by the Monetary Policy Council. In the last meeting, the Monetary Policy Council did not change interest rates, maintaining a pawn store rate of 6.5 percent. According to the law, the interest is equal to a pawnhold rate increased by 200 percent, but this sum cannot be little than 8 percent.

In addition, the taxation Office may impose additional penalties, especially in utmost cases specified as full avoidance of property tax. These additional penalties are intended to apply coercion measures to those who grossly disregard taxation obligations. In this way, the criminal government is to act as an effective preventive measurement to encourage timely and regular regulation of taxation obligations.

Property taxation 2024. There'll be large increases.

So far, property taxation has not been hard for Poles. However, we are now assured that the property taxation rates for 2024 will scope evidence levels. Increases are expected at around 15%, which is the consequence of highly advanced inflation rates in Poland.

The fresh rules supply that each self-government will be entitled to rise taxation rates up to a maximum of 15%. For owners of apartments of 65 square meters, this means an increase in fees by about 10 PLN, raising them from 65 PLN to 75 PLN.

Of course, no of the local governments are obliged to exercise this right, but due to increasingly limited funding, there is simply a advanced probability that many of them will choose to usage this option. These decisions aim to supply local government budgets that face the challenges of limited funding. According to the information provided by the newsnadzis.pl portal, respective cities, specified as Gdańsk, Lublin and Katowice, have already declared their decision to apply maximum rates of property taxation for the coming year.