BUSINESS

Supplementary property tax threshold likely to be raised

PROKOPIS HATZINIKOLAOU

TAGS: Taxation

The adjustment of the property prices used for tax purposes (known as "objective values") and the creditors’ strong opposition to government plans to shift the tax burden from owners of small properties to those with large properties is opening the door to a reduction of the burden on those with assets worth over 200,000 euros.

Sources say the change in objective values will take the revenues from the Single Property Tax (ENFIA) to 3.5 billion euros, allowing for the raising of the supplementary tax threshold from 200,000 to 250,000 euros, easing those owners’ tax load by 50 euros.

However, 1 million owners will be asked to pay a higher ENFIA this year.

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