SPF head announces creation of unified property appraisal database by June

14:35, 10.05.2018 1 min read

The State Property Fund (SPF) is finishing work on the creation of the unified property appraisal database, acting Head of the SPF Vitaliy Trubarov has said.

"We are now finishing this procedure. I think that starting from June we will move to new frontiers," he said on Channel 5 TV.

The head of the fund recalled that the goal is to prevent the registration of transactions for the purchase and sale of real estate at a reduced price for avoiding taxation, especially in cities with a population of one million.

"According to our data, when this system starts working, the national budget could receive an additional UAH 2 billion to UAH 3 billion," Trubarov said.

According to him, appraisers in their work will use special software and enter data on the transaction into the database. "If he meets the indicative that exists there, then his work is accepted, and the notary has the right to endorse (a transaction)." If he does not accept, then the transactions do not take place," he said.