Armenia's Cadastre Committee reports that the 500 largest property taxpayers contributed AMD 3.324 billion in property taxes in 2024, a significant increase from AMD 1.662 billion in 2021. This growth is attributed to reforms aligning cadastral valuations with market values and implementing a unified territorial zoning system.

The new taxation framework, effective since January 1, 2021, calculates property taxes based on updated cadastral values reflecting market prices. A phased implementation plan was introduced, with taxpayers paying 25% of the new rates in 2021, increasing annually to reach 100% by 2026.

Projections indicate that property tax revenues from these top taxpayers will reach AMD 4.985 billion in 2025, reflecting the ongoing impact of the reforms.