Objective values to rise for 60 pct of property zones

eKathimerini — The adjusted property rates used for taxation purposes (known as “objective values”) will be increased in 6,070 zones around the country, Deputy Finance Minister Katerina Papanatsiou stated on Thursday. Speaking on Sto Kokkino radio, she added that the state revenues from the Single Property Tax (ENFIA) will remain the same.

According to the data the deputy minister presented yesterday, “in 60 percent (6,070 zones) we have an increase of the objective values that are harmonized with market rates; there is a reduction in 23 percent (2,300 zones) and the rest remain unchanged.”

Generally, the objective values in the Ionian islands, the northern Aegean and the majority of tourism destinations will see an increase. On the other hand there will be reductions in Western and Eastern Macedonia and in Thrace, while 34 percent of zones in Central Greece will see a drop.

Papanatsiou explained that while property market prices have slumped, “the objective values were far lower in most areas than the market prices.”