BUSINESS

Some property owners face higher tax bill

TAGS: Economy

One in three property owners will have to pay more tax this year, although for the majority the increase will be relatively small according to the Finance Ministry.

Data released Friday by the ministry show that some 2.2 million home owners will see an increase in their property tax bill, known as ENFIA.

Just over 20 percent of homeowners (more than 1.5 million taxpayers) will have to pay between 0.01 and 10 euros more this year compared to 2015. Just under 6 percent (around 420,000 people) will see their bills rise between 10 and 50 euros. The biggest increase will be for just under 4 percent of property owners (some 270,000 people), whose ENFIA bill will go up by more than 50 euros.

On the flipside, about 4.9 million homeowners will experience no change in their property tax or will see it drop slightly. Of those, 34 percent will pay slightly less than last year, while 35 percent will pay exactly the same as they did in 2015.

The Finance Ministry, which made some last-minute changes to the tax, is aiming to collect 2.6 billion euros from the ENFIA tax this year, which is exactly the same as a year ago. It argues that this year’s tax is fairer because it has shifted some of the burden from small properties to larger ones.

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