In terms of pilot projects

National Cadastre Agency proposes appraisal of all types of property
By Tatiana Gromova

The National Cadastre Agency is proposing a new system of property appraisal, starting with a pilot project across the Sovetsky District of Minsk and the Kobrin District of the Brest Region. The Kobrin District has been chosen for being ‘statistically average’ nationally — in size and number of registered plots (60 percent registered). In the Sovetsky District of Minsk, 88 percent are registered.

Methods of assessing properties of all types are to be decided, covering rural and urban homes, including blocks of flats, as well as business sites and factories. Plots of land, permanent structures and empty premises will also be scrutinised, with valuations provided for every type of property.

Financing is being provided from the Republican budget, with the pilot project due for completion within 12-18 months. The State Property Committee notes, “We’re expecting the pilot project in the Kobrin District to allow us to assess the effectiveness of our appraisal methods and to judge how much it would cost to fulfil the project countrywide.”

Property assessment in the Sovetsky District of Minsk will allow real estate tax to be recalculated: naturally, valuations are higher in the capital than across the regions. However, results will also be used for insurance and mortgage purposes, and for urban development and statistical analysis. Valuations will, naturally, prove useful in cases of privatisation and prerogative right of repurchase.

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