Situation: The taxpayer owns an apartment with total floor area of 200 m2. He is sole owner.
How much tax on immovable property will he pay per year?
Answer: The taxpayer is eligible for a relief up to 60 m2, therefore, only 140 m2 is subject to
taxation. Current statutory minimum monthly wage is UAH 1,218. Given this, the taxpayer
should pay 1,218 x 2% x 140 = UAH 3 410,40 per year (the maximum amount, provided that the
tax rate established by the local authorities of the region in which the property is located, is 2%
of the minimum monthly wage).