ENFIA reduction will amount to 30 percent

The government is planning to gradually reduce the single property tax (ENFIA) by 30 percent from 2015. Finance Minister Gikas Hardouvelis said on Thursday that “the reduction of both the main and the supplementary tax is already one of the government’s objectives.” It’s possible the government will increase the 20 percent discount for owners of empty houses that aren’t connected to the power grid to 50 percent next year. On the subject of objective values, Hardouvelis said a committee led by the general secretary of public property has already been set up to review the method for calculating property values used by the tax authorities so as to reflect market prices with the greatest possible accuracy.The adjustment of the objective values (in 2016 or 2017) will automatically result in the reduction of ENFIA and the supplementary tax paid by owners of properties worth more than 300,000 euros in total. Next week the government will submit a draft law to Parliament with various clauses that will include the disengagement of the objective value of a property from the process of registering a property transaction by the tax authorities.

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