ECONOMY

New objective values to come in a few days’ time

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The new property rates used for tax purposes, known as "objective values" and adjusted to a great extent to the market rates, will be announced in the next few days, Alternate Minister Tryfon Alexiadis told state television ERT on Saturday.

"The new objective values will also apply retroactively for a period in 2015, and will be replaced soon by the new system of commercial rates," the minister stated.

The new rates will concern the period after May 21, 2015, as the Council of State dictated, but will not affect the 2015 Single Property Tax (ENFIA).