The property tax is levied at the following rates:

- up to 0.3% on the market value of the land-plot, if the taxpayer is an individual;

- up to 0.4% on the market value of the real estate, if the taxpayer is an individual. In this case, the rates are progressive (up to 0.4% - up to 0.6% - up to 1 % - up to 2%)

- up to 0.4% on the book value of the real estate, it the taxpayer keeps the books.

It is the local government unit that fixes the tax rate within the limits set by the law. Several real estates are exempt (public owned land, buildings and land of foreign diplomatic and consular missions, bulidings and land which are the proporty of churches...) .

A taxpayer residing in his own apartment or house is granted a tax credit of 50% of the tax liability, but up to 20.000 RSD.

The local TA issues a decision on assessment of property tax. Tax is assessed annually and is payable in quarterly instalments.