New objective values to be issued in June resulting in property tax changes

eKathimerini — Greece’s 7 million property owners will find out next month what the new taxable rates in their area will be, ahead of receiving their Single Property Tax (ENFIA) demands in the last few days of August.

The recently formed committee tasked with processing the zone rates recommended by property surveyors has not yet completed its work, which has led to further delays in the announcement of new “objective values” (property rates used for tax purposes) – and possibly to the dismay of the country’s creditors who are to send their chief representatives to Athens next week.

Kathimerini reports that following the adjustment, the losers will most likely be the owners of properties with current zone rates ranging from 750 to 1,500 euros per square meter. In those areas, ENFIA will rise between 3.5 and 21.6 percent, and in a handful of cases considerably more.

In any case, the new objective values will bring rates closer to market prices and will affect changes in some 20 other taxes and levies imposed on property.