Are new taxes already on the horizon? Mykolaiv plans to reassess land values

In Mykolaiv city council members at a session on April 9 2026 supported a decision to update the normative monetary valuation of land. The corresponding decision was voted for by 29 of 39 deputies. This indicator determines the size of the land tax and rental payments, however even after the update there is no guarantee that budget revenues will change immediately.

This is only the start of the process — ahead is the development of technical documentation, which will cost the city approximately 3.5 million hryvnias. It is expected that the actual cost may be lower as a result of the tender. After that the document must go through all regulatory procedures, including publication and approval for each zone of the city.

According to the Department of Architecture and Urban Planning, updating such a valuation is mandatory under legislation and must be carried out once every five years. In Mykolaiv, however, it was last approved 7 years ago, which already exceeds the established terms. In addition, there are court disputes regarding the previous valuation, and the calculation methodology has changed and become simpler during this time.

Currently the average indexed base value of one square meter of land is about 550 hryvnias, but actual calculations for taxation can reach approximately 1200 hryvnias per square meter. At the same time, analysis of the situation in other cities shows that after updating the valuation adjustments usually occur within 10% — both upward and downward.

For the new valuation to take effect from January 1, 2027, it must be approved and published by July 15, 2026. However, the city council already acknowledges that due to the duration of the procedures and the need for funding implementation may be delayed by another year.

The process includes the preparation of technical documentation, going through regulatory procedures and subsequent approval by the city council. In fact, the city is only beginning this path, which should have been implemented several years ago.

Previously we wrote:

• 2.9 billion to local budgets of the Mykolaiv region for Q1: PIT — 66%, revenues increased by 445 million
• Kim requests the names of the deputies who are blocking the benefit for “Nibulon”: 100 million UAH and the company’s departure at risk
• Farmers in the Mykolaiv region paid over UAH 77 million for land
• Farmers in the Mykolaiv region paid almost UAH 1.2 billion in land payments in 2025
• War and affected businesses: the city council reduced land taxes for entrepreneurs