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What are the expenses upon conveyance of property ?


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What are the expenses upon conveyance of property ? The base for determining the expenses for transferring the title of ownership is the sum entered in the Notary deed, which is either the amount negotiated between the Seller and th Buyer, or the tax evaluation of the property, prepared by the respective Tax Service. The tax and fees due are as follows:
1. Local Fee – 2 % of the price of the property, payable by bank transfer to the account of the prospective Municipality;
2. The Notary taxes for execution of the Notary Act is progressive and depends on the amount of the material interest certified. Those amounts are specified in the Notary Taxes Tariff in the Notaries and Notary activities Act: For certified material interest up to 100lv, the Notary Tax is 15 lv, for sums from 100,01 lv to 1000 lv, the tax is 15lv + 1,5% from the amount above 100lv, from 1000,001 to 10 000 lv.- 28,50lv + 1 % from the sum above 1000lv, from 10 000,001 to 50 000 lv. - 118,50 + 0,5 % for the amount above 10 000lv. from 50 000,001 to 100 000 lv. 318,50lv + 0,2 % for the sum above 50 000 lv, for sums more than 100 000 lv. 418lv + 0,1 % from the sum exceeding 100 000 lv, but no more than 3000 lv.
3. Entrъ Tax – 0.1 % from the price of the property;
4. VAT is added to the Notary Fee. When transferring not fully completed properties, new buildings and other properties dully cited in the Law VAT is due by the tax owing entities under the regulations of the VAT Act.