Exemption limit in the new law is up to (L.E. 24.000) of the rental value estimated for the residential units. This is for each family for only one unit, which means that all buildings whose market value is less than L.E. 2 millions will be tax-free. As for the non-housing units: tax-free is each unit in a building used for commercial, industrial, administrative or craft (professional) purposes whose net annual rental value is less than L.E. 1200, and taxed if it exceeds.
The real estate tax is due on the first of January of each year, and it gets two equal installments, the first until the end of June and the second until the end of December of the same year, and the taxpayer may pay it in full on the date of paying the first installment.
Property taxes
The taxpayer is the natural person or the legal person who has the right to own, use or utilize the property, where the tenant is not considered a taxpayer, but is a joint partner with the taxpayer to pay the tax within the approved lease.
Taxpayer
25% of the proceeds of the real estate tax will be directed to the governorates for spending on education and health, and 25% of the entire proceeds will be allocated for the purposes of developing and developing slums.