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Tuesday, October 23, 2007

New Land Rent Rate Proposals For Kiev City

The Kiev Department for land resources has urged Kiev City council to approve standard land rent rate from 0.3% up to 10% valuation of the land.

The rent for land under residential buildings is proposed to be the lowest - 0.3%, while the highest rent rate will be for land utilizing by alcoholic beverage companies, metal companies, retailers sellers, open markets for non-food and automotive goods.

Financial institutions and gambling will pay 10% rent, too.

The rent is set at 3% for meat and diary manufacturing companies, as well as ice-cream, sugar, canned vegetables and fruit.

The rent is set at 5% for hotels, bars and cafes, 6% for restaurants and tourist agencies, 9% for mobile and Internet service providers , 8% for advertising companies, 1.5% for state medical and educational services.

The Department asked The City council to cancel its resolution of December 2000 setting land rent from 0.03% to 6% of standard valuation.