omaisuusverolain

Omaisuusverolaki refers to the Finnish law concerning property tax. This tax is levied on individuals and corporations based on the value of their assets. The purpose of the property tax is to fund municipal services. The tax is imposed on real estate, including land and buildings. The taxable value of a property is determined by its market value, although the specific valuation methods can be complex and are defined by law. Exemptions from property tax can exist for certain types of properties, such as those used for public benefit or religious purposes. The tax rate is set annually by each municipality, creating variation in the amount of property tax paid across different areas of Finland. Generally, the tax is paid by the owner of the property on January 1st of the tax year. The revenue generated from property tax is a significant source of income for Finnish municipalities, contributing to the funding of essential services like education, healthcare, and infrastructure. The legislation governing property tax is subject to periodic review and potential amendments by the Finnish Parliament.