Uzbekistan introduces mass evaluation system for real estate market value

Uzbekistan will implement a mass evaluation system to determine real estate market values more accurately. This initiative was outlined in a presidential decree titled "On the Introduction of Real Estate Valuation."

According to the decree, the system aims to apply modern methods and mechanisms for real estate valuation, enhancing the use of economic assets among the population and entrepreneurs. The primary objectives include:

- Assessing more than 8 million residential and non-residential properties, along with approximately 7 million land plots;
- Ensuring the determined value is used for taxation, purchase, mortgage, expropriation, and other public needs;
- Establishing a reliable, comprehensive, and regularly updated real estate market database;
- Promoting tax fairness and transparency.

The mass evaluation system will be implemented in stages:

- 2025-2026: Pilot project in Tashkent;
- 2026-2027: Expansion to Nukus and regional centers;
- 2027 onward: Rollout to remaining regions.

As part of the reforms, the National Center for Public Assessment of Real Estate will be established under the Cadastre Agency to oversee the evaluation process. The Ministry of Economy and Finance will serve as the key authority for implementing a unified state policy in mass assessment.

By November 1, the "Monitoring of Real Estate Market" information system—responsible for data collection, processing, and analysis—will be developed. Additionally, the "Metering Real Estate" system will be introduced to determine the market value of properties.

Based on experimental results in Tashkent, the Ministry of Economy and Finance is tasked with preparing proposals for reducing land tax rates and restructuring the taxation system by December 2025.