Earlier this month, the Prime Minister of Greece announced changes to the rates and brackets of the ENFIA (Uniform Real Estate Property Tax), which will result in a 13% reduction or €350m in ENFIA payments. The PM indicated that the change would impact positively on as many as 80% of Greek property owners, whilst a minority of 6% will see an increase in tax.
Some property owners in the lower value areas will see reductions as much 30% for properties and 50% for land, whereas the tax will increase for some owners due to the high value location of their properties.
According to the Minister of Finance, without the reduction in the rates, the ENFIA tax would have seen increases to as much as 60% generated by the newly applied taxable property price brackets.
First introduced in 2011, the ENFIA tax was reduced by 20% in 2020.
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