Rushing to change objective values to satisfy troika

However, ministry sources clarified that it is not in the Commission plans to change the IRS objective values this year. As of July they will only suggest the new mechanism for the automatic change in objective values, but not the "base" values for their calculation.

The new mechanism of automatic fluctuation in objective values will be possibly implemented in 2014, but it is considered politically impossible to do at this point, because currently the real estate market is too "shallow".

"There is no market, there are transactions," a senior member of the Finance Ministry says. "There is a technical distortion. What would the Commission's conclusion indicate, if it were to change the values from this year? Objective values in expensive areas would fall. But that would mean easing any rich players dealing during the crisis at low prices in these areas. In contrast, the popular and degraded areas with low commercial and objective values, where only some small transactions occur, would rise. This would burden the working households, while it would provide breaks for big business."