ECONOMY

New delays in completing objective values

new-delays-in-completing-objective-values

The pandemic and the lockdown are considerably delaying the completion of the process for the adjustment of the property rates used for tax purposes, known as objective values, which according to the plans of the Finance Ministry should start applying from 2021.

The deadline granted to the appointed surveyors for their recommendations has expired, but the ministry still needs to find property monitors to submit estimates concerning 1,233 areas by November 30. Sources say that given the conditions, the new objective values will not be used for the calculation of next year’s Single Property Tax (ENFIA) after all, but will rather only be used for property transfers and then apply in full as of January 2022.

This concerns areas ranging from Attica (such as Nea Philadelphia, Vari, Nea Makri, Lykovrysi, Palaio Faliro, Vouliagmeni and the Second Municipal District of Athens) to Thessaloniki and the Peloponnese, and given the restrictions with the second national lockdown, is it likely that the determination of the new zone rates will be postponed again, as inspections are forbidden and obtaining comparative data is much more difficult.