Realty rate hikes up for review

Dozens of municipalities file request for adjustment of objective values to be reversed

Realty rate hikes up for review

Nearly half of the country’s municipalities (44%) are calling for a reduction in the property rates used for tax purposes (known as “objective values”) or even a return to 2018 levels.

The existing zone prices came into effect in January 2022 and, as several municipalities report, have forced many citizens to lose various benefits (guaranteed minimum income, housing benefit), while some also miss out on the PPC social rate, for which the total taxable value of the household’s real estate should not exceed 120,000 euros.

According to the data of the competent ministries of Digital Governance and Finance, up until Monday noon 142 objections had been filed (a total of 332 municipalities) and this number is set to increase. It is noted that the deadline normally expired on Monday night, however, it is possible that a few days’ extension will be granted.

Some people attribute this wave of objections to the upcoming municipal elections. It was started by the City of Athens, which has requested a 50% reduction of the increases in zone prices. Dozens of municipalities in Attica followed, among them Glyfada, Kallithea, Maroussi, Vrilissia, Zografou, Agios Dimitrios, Pallini and Moschato-Tavros, while there are several municipalities outside of Attica that have submitted a request for a price reduction. Those municipalities include: Kalamata Rhodes, Kilkis, Pylos, Samos, Corfu, Patra, Pyrgos, Ithaca, Komotini and others.

Finance Minister Christos Staikouras has clarified that “where there is any validity, the competent committee will propose a new assessment, with the same procedure, provided by the institutional framework, without retroactive effect.”

The competent services of the Finance Ministry will examine the opinions of the municipal councils accompanied by evidence of the actual market prices. If the process is repeated and new zone values are determined, they will apply from the time of the decision and henceforth. A redetermination of the objective prices will be done in the areas where the validity of the requests of the local municipal authorities is proven.

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