«Every year, property owners can submit a request to the Register Center to clarify the tax value of their properties — buildings or land plots — during the first three months of the year, i.e., from January to March. It is important to note that in order to adjust the tax value of a property, an individual property appraisal must be carried out and the original appraisal report must be submitted along with the application,» said Lina Kanishauskene, Head of the Property Appraisal Department for State Purposes at the Register Center.
Every year, the Register Center conducts a mass appraisal of all Lithuanian real estate (buildings and land plots) and recalculates the average market value. These values are equated to the tax values at least once every five years, based on which property taxes are calculated.
Property taxpayers have the right to submit a one-time application to the Register Center within three months from the beginning of the tax period (calendar year) to recognize the tax value of the real estate property, which is determined after an individual property appraisal.