What Is Rayiç Bedel? The Difference Between Property Tax Value and Market Value

'Rayiç bedel' is used in everyday speech to mean two different things, and this mix-up is very common. It sometimes refers to the value the municipality sets for property tax, and other times to the price a home could actually sell for on the market. The two often differ substantially.

Property tax value

Municipalities assign a value to properties in order to calculate property tax. For land and lots, unit values are set by street or district; for buildings, construction cost values based on building class and age are used. These values are reassessed at set intervals, and updated in the years between using rates set by law.

Market value

Market value is the price at which a home would change hands between an informed, willing buyer and seller, with neither under pressure. The value in appraisal reports and listing prices sit close to this concept.

Which one is used for the title deed fee?

The title deed fee is calculated on the sale price the parties declare. Regulation prevents the declared price from falling below certain minimum values (the property tax value and values set by the authorities). In other words, the property tax value is a floor for the fee, not the sale price itself.

How do you find out the property tax value?

You can find it out from the property tax office of the municipality where the property is located, or through e-municipality services. Some title deed transactions may require a letter showing this value.