Real estate and wealth tax
Homes, farmland, commercial premises and overseas property: location, ownership share and valuation method would all matter under the draft.
Based on the supplied draft. The rules described have not been verified as effective law; the final provisions may change.
Hungarian property: an ordered valuation process
Sections 15–17 would prioritise a qualifying transaction value from the preceding twelve months, followed by a qualifying indexed transaction value and an available tax-authority model value. Expert valuation would have specific conditions; this would not be an unrestricted choice of the lowest value.
Overseas property and independent valuation
Section 16 would start from the acquisition transaction or official value, with annual adjustments and documented improvements. If unavailable, an official foreign value and then expert valuation would follow. Section 19 would regulate independence and qualifications, with stricter rules for high-value Hungarian property.
Documents to prepare
We review ownership and valuation history together. Shared ownership and usufruct would require separate assessment (sections 7 and 22).
- ownership records, acquisition contract and official value decisions
- valuation reports and improvement invoices
- loan agreements and outstanding debt confirmations
- official overseas property values and currencies
Frequently asked questions
Could I freely choose a property value?
No. Sections 15–17 of the draft prescribe an order of valuation and specific conditions for using expert values.
Would overseas property count?
For Hungarian residents, yes, under sections 4 and 16; the relevant international treaty would require separate review (section 8).
Open draft (Hungarian)