ECONOMY

Property owners to get levy notices every month

Over half a million property owners will have to pay real estate taxes just about every month of 2013, as the Finance Ministry is aiming at cashing in more than 3 billion euros from such bills this year.

The effort will be spearheaded by the FAP property tax for 2011 and 2012, two years for which property owners have already been taxed through a special charge levied via electricity bills.

Tax notices will be multiplied in the coming months, as besides the remaining two to three installments for the aforementioned extraordinary levy tagged on to power bills for 2012, the ministry will start sending bills for the 2011 and 2012 FAP tax as of mid-February.

At the moment it appears that property owners will be asked to pay those taxes in 10 to 12 equal installments, one every month, which is seen as easier to pay than three larger installments.

The 2011 and 2012 FAP tax concerns over 500,000 owners of property valued at a minimum of 200,000 euros. Furthermore, the new single property tax for 2013 will also be due in the year’s second half.