NEWS

Property tax bills coming up

PROKOPIS HATZINIKOLAOU

TAGS: Property, Taxation

This year’s property tax bills will be posted online on August 31 and they will be lower than in 2018.

The owners of some 7.3 million properties will pay 10 to 30 percent less than last year, following the passage of a bill in the newly elected Parliament.

The tax cuts are 30 percent for owners whose property is valued at less than 60,000 euros, 27 percent for 60,000 to 70,000 euros, 25 percent for up to 80,000 euros, 20 percent for up to 1 million, and 10 percent for more than 1 million.

There are also discounts for very low-income earners, large families and families that include disabled individuals. The first category will get a 50 percent property tax discount and the other two will be completely exonerated, provided their property does not exceed a certain value.

Because of the number of bills that have to be posted, tax authorities are making trial runs online to ensure there will be no mistakes in the bills and that the system won’t crash.

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