PROPERTY TAXATION

The details of the new ENFIA

Bill for amended Single Property Tax tabled in Parliament – here’s a full guide to rates

The details of the new ENFIA

Only 6% of property owners in Greece will pay more for their Single Property Tax (ENFIA) this year, according to a bill introducing the amended version of the tax, tabled on Tuesday in Parliament in Athens. The vast majority of owners – an estimated 5 million taxpayers – will pay less than they did in 2021.

The main rates of the new Single Property Tax are as follows: For zone rates from 751 to 1,500 euros per square meters, the tax will drop from €3.70/sq.m. to €2.80/sq.m. The €1,501-2,500/sq.m. zones will see their tax rate drop from €4.5-6 sq.m. to €3.70/sq.m. As for the €2,501-3,000/sq.m. zones, the tax rate there will fall from €7.60/sq.m. today to €4.50/sq.m.

Furthermore, the new system will expand the 30% ENFIA discount for properties up to €100,000 euros each (it had been up to €60,000 until 2021), and the 25% discount will expand to properties of €100,001-€150,000. The bill also provides for the payment of the Single Property Tax in up to 10 interest-free monthly installments, up from six tranches in 2021.

Examples

* The owner of a 100 sq.m. first-floor apartment on Santorini, with a zone rate of €4,950/sq.m., had to pay ENFIA of €1,744 in 2021. In 2022 the zone rate rises to €5,050/sq.m. and the tax due comes to €1,991.75, up 14.21%.

* With a zone rate of €4,900/sq.m. in 2021, a 250 sq.m. apartment on Mykonos, paid tax of €10,206. This year the zone rate has risen to €5,900/sq.m. and the tax due will increase 16.51% to €11,891.24.

* A first-floor apartment in Nea Filadelfia, Athens, with a zone rate of €1,200/sq.m., paid ENFIA of €372.96 last year. Its zone rate is now €1,500/sq.m., but the ENFIA due will be down 24.32% to €282.24.

* A 100 sq.m. first-floor apartment in Xanthi, Thrace, has its zone rate unchanged at €750/sq.m., but will pay 33.33% less ENFIA – €147 against €220.50.

* An apartment of the same description in Kaisariani, Athens, had a zone rate of €1,100/sq.m. in 2021 and paid ENFIA of €310. Its zone rate is now at €1,350/sq.m. but the tax due comes to €220.50, down 29.05%.