6.2.13
The government is to finalize the details of its new land tax, which is to replace the current multitude of real estate taxes. The Minister of Finances will meet representatives of all three government parties at 3pm to discuss the law’s basic principles, followed by a discussion amongst the three party leaders.
Government sources indicate that the non-taxable limit is for property worth up to 50,000 euros, with tax rates ranging from 0.1% to 1.5%. There are some thoughts for a maximum rate of 2% applying for property worth more than 10 million euros. Fields will have a different non-taxable limit and lower rates, as well the fields of professional farmers.
Mortgaged property, empty offices, apartments and stores will not be exempt. There are some thoughts about exempting the unemployed (based on strict income criteria), while large families and the disabled will have a higher non-taxable limit.
