The tax on the property of individuals in the Russian Federation will be introduced in the first half of 2018. This was during a message to the Federal Assembly, Vladimir Putin.

The President of Russia noted that it should be fair and affordable for citizens.

"When some, including those sitting in this hall, colleagues urged us and me, including using the market value of real estate in calculating this tax, they said that the old, outdated estimates of BTI are anachronism," he said..

The reality, he said, was different:

the cadastral value, which should correspond to the market value, often significantly exceeds it.

"We did not agree on this, and people did not expect this from us in any way. It is necessary to clarify the mechanisms for calculating the tax, as well as determining the cadastral value of the property. In any case, it should not exceed the real market value, "Putin instructed..

The election of the President of the Russian Federation will be held on March 18, 2018. Vladimir Putin goes to them self-nominated.