Previous real estate taxes provided for in a 2008 Law had been revoked from 1 July 2013. Tax exemptions for leased properties still apply in line with a 1977 and 1981 law.

The current real estate tax rates are set at 10% of a property's rental value, with 25% of the proceeds going to local government sources and 25% for to regenerate slum areas.

Appeals regarding incorrect property valuation may be made within 60 days of the completed tax assessment announcement date and appeals committees will issue a decision within 30 days of the appeal being filed.

The Minister added he is reviewing the need for local committees to evaluate the value of administrative, industrial and residential real estate units. Each committee will consist of a real estate taxes expert, a real estate appraiser and one local resident.