New tax for real estate developers

A new local tax, called 'local territory equipment tax', will be introduced for real estate developers who contribute to the expansion of cities and communes, according to the Territorial Planning, Urbanism and Constructions Code (CATUC).

The Minister of Development, Cseke Attila, emphasized that the development of neighborhoods must be accompanied by investments in infrastructure, such as roads, utilities, schools, and green spaces.

The new tax targets large-scale projects that generate the need for additional public investments, ensuring that the expansion of localities is not financed solely from the budgets of local administrations.

The amounts collected will remain in the communities where the projects are carried out and can be used for the modernization of water networks, roads, public transport, education, and environmental protection. Through this mechanism, the authorities aim to ensure sustainable infrastructure development in relation to new constructions.