In mid-September property owners will find out their Single Property Tax (ENFIA) dues for this year, with the first installment set for payment by the end of this month.
By September 15, more than 7 million owners will have been informed through Taxisnet of the amounts they must pay for their assets this year. Those without any change to their property during 2019 will pay exactly the same amount as last year, while, for one more year, over 1 million taxpayers will see their ENFIA halved or wiped out altogether based on property and income criteria.
The main change this year concerns landlords who have been forced to collect 40% less rent for some months by government decision – some of them are still collecting less if their assets are used by enterprises in the sectors of food service, tourism, culture, sports and transport. The government will cover 30% of their losses. For some taxpayers the loss of revenue has been offset through their income tax dues, but those with no income tax to pay and those with tax rebates due (about 50% of taxpayers) will see their ENFIA bill reduced instead.
This year’s ENFIA will be payable in up to six installments, with the first due by September 30 and the last by February 26, 2021. For another year, farms and plots outside town planning are exempted from the supplementary property tax that is imposed on large properties.
Owners will this year enjoy the same discounts they had in 2019, based on the sum of their assets’ value. Therefore, properties up to 60,000 euros will have a 30% discount compared to what they paid in 2018, those valued at up to €70,000 will have a 27% discount, those up to €80,000 will get a 25% cut, then properties over €80,000 and up to €1 million will have a 20% discount, while the reduction for those with properties valued at more than €1 million will amount to 10%.
A full (100%) exemption from ENFIA is offered to families with three or more dependent children or with a member with a disability rating of over 80%, provided the annual household income does not exceed €12,000 plus €1,000 per dependent member, and properties do not exceed 150 square meters.
The government expects to collect some €2.5 billion from this year’s ENFIA.