ECONOMY

Property levy calculation errors

Many property owners have identified serious errors in the calculations of the new property levy included on electricity bills, a clear sign of the lack of planning and coordination by authorities.

However, the Finance Ministry is insisting that owners still have to pay the levy now, even if the figure is wrong.

There are differences in the figures of property surface area that local authorities have and the actual ones, as well as in the property age factor and the zone price, i.e. the objective value of the area in terms of euros per square meter used to calculate the charge.

For instance, one of the errors recorded concerned a 55-year-old apartment in Kypseli, north of the center of Athens, that was given an age coefficient of 1.10, which normally corresponds to buildings constructed between 1992 to 1996.

The lack of preparation and the government?s haste have also led to problems in the calculation of surface area and zone prices.