PROPERTY TAXATION

New ENFIA to be unveiled in a few months

new-enfia-to-be-unveiled-in-a-few-months

Property owners will have to wait a while longer for the new Single Property Tax (ENFIA) – which will have to be paid next year – to be unveiled.

According to a senior Finance Ministry official, several issues remain pending, as the competent committees have not yet completed their work regarding the extension zones that until recently were not included in the objective values system.

“We’ll have to be patient for a few more months,” said the ministry official. He did note, however, that the new taxable rates have been added to the existing zones, and there are currently some checks being performed to establish whether the new ENFIA rates will lead to the desired outcome – i.e. that property owners pay the same or even reduced ENFIA next year.

According to the final budget draft, submitted on Friday, property owners will be taxed a total of 67 million euros less in 2022, not including the benefit to emerge from the incorporation of 3,463 areas into the objective value system. The state expects revenues of €2.503 billion from ENFIA next year, compared to €2.57 this year.