Author Topic: Property taxes  (Read 711 times)

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Offline Maik

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Property taxes
« on: Tuesday, 01 January, 2019 @ 04:39:50 »
Extensive changes afoot in 2019 in the taxation of properties

Thousands of property owners in Greece face the prospect of higher taxes due to sweeping changes that are being introduced in 2019.

Starting on January 1 the cost of property transfers will go up, as the tax charges will be calculated according to the new rates used for tax purposes – known as objective values – that were drawn up earlier this year and go into effect in 2019. The same applies to all charges on properties that are based on the taxable rates. There is a 10 percent average reduction to the Single Property Tax (ENFIA) planned for 2019, but that is likely to be offset by a new adjustment of objective values in the summer.

The objective values that applied from the summer of 2018 to the ENFIA dues will now also apply to all other property charges as of January, including stamps and duties on sales, parental concessions, etc. Therefore, any property transactions in the 3,792 zones in Greece where objective values are going up in 2019, will also be charged higher transaction rates.