Real estate valued at more than 100 million riels ($25,000) subjected to property tax

[Everyday.com.kh]

Real estate such as land, houses, constructions etc… that are built on land and that are valued more than 100 million riels ($25,000) will be subject to property tax. However, the tax rate is set at 0.1% only. Furthermore, agricultural land will not be subject to property tax. Officials with the tax department made this announcement during a property tax meeting held in Tuol Kok district on 07 June 2011. Chou Srun, the director of the tax department at the Tuol Kok district office, indicated that real estate valued at more than 100 million riels ($25,000) will be subject to property tax. Property tax revenue will not be used for anything other than for Phnom Penh city development.