News

Greek Single Property ENFIA Tax Relief Only For Those Who Pay Little

Date: 22.11.2018 / TornosNews.gr / Comments (0)
The middle classes will enjoy practically no tax relief in 2019..

Instead of abolishing the Single Property Tax (ENFIA), or at least revamping it, the Greek government is only reducing it slightly for the majority of owners next year, by an average of 50 euros per annum for those with assets worth up to 150,000 euros, ekathimerini.com reports.

Owners of larger properties, typically the middle classes, will enjoy practically no tax relief in 2019.

In all, the government intends to collect 263 million euros less next year to ease the burden on the 5.12 million owners who pay about half the ENFIA revenues, or 1.4 billion euros, every year.

On the other hand, the owners of medium-sized or large property worth over 150,000 euros – who account for 48% of ENFIA revenues – will have to wait until 2020 to see their dues shrink somewhat.

Figures show that 3.488 million owners with properties worth up to 60,000 euros will see an ENFIA reduction of 45-50 euros, or up to 30 percent from 2018; about a million owners of properties worth 60,00-100,000 euros are set for a 60-70-euro drop in their bills (up to 21 percent); and owners of assets worth 100,000-150,000 euros will pay 45-50 euros less (a discount of up to 9.5 percent).

The ENFIA bills of those with assets worth between 150,000 and 200,000 euros will be reduced by only 6 million euros in total, meaning a negligible difference for them.

According to Stratos Paradias, the head of the federation of property owners (POMIDA), “instead of abolishing it or slashing it, or at least a fair, balanced and substantial reduction of ENFIA for all taxpayers – as they all need it – today the road chosen is that of excluding those who continue to suffer the greatest burden, and easing the load by just 48 euros on average for the rest.

The economy cannot be restarted with such tricks – that needs substantial measures to ease the tax load on real estate, to create employment in the construction and innovation sectors and all the relevant professions.”

The government has also told the European Commission that it will adjust the country’s objective values (the property rates used for tax purposes) both in 2019 and 2020, which will also affect each owner’s ENFIA dues gradually starting next year.



http://www.tornosnews.gr/en/tourism-businesses/real-estate/33475-greek-single-property-enfia-tax-relief-only-for-those-who-pay-little.html

Reviews & Comments


GPE360.com (GreekPropertyExchange.com) has relaunched as the top Greek real estate and property website portal dedicated to Greece and Cyprus’ industry. GPE360.com’s members include top real estate agents, realtors, individual sellers, FSBO, sale by owners, architects, developers, construction companies, lawyers, notaries and others that advertise residential (house, home, land, apartments, flats, villas, land, parcels and commercial listings for those looking to buy, sell and rent across all of the Hellenic Republic. GPE360.com is like the MLS database portal that is advertised in the top Greek diaspora and international markets around the world to those looking to invest - including Australia, the United States, Canada, United Kingdom, Germany, France, Spain, France, Europe, South Africa, Russia and everywhere else. Most foreigners start their home search in popular destinations like Mykonos, Chania, Crete, Athens, Thessaloniki, Cyclades, Santorini, Rhodes, Corfu, Ios, Lefkada and many more cities, prefectures and regions in Greece. GPE360.com has been featured in most Greek news media outlets and in some of the leading international publications in newspapers, magazines, websites, online news portals, television and radio. Notable publications featuring GPE360.com and its founder, Georgios Stroumboulis include the Wall Street Journal, G1 Brasil, India Today, Barron’s, El Mundo, Naftemporiki, Kerdos, Isotimia, Vradyni, Elefterotypia, Elefteros Typos, Imerisia, Ta Nea, Ethnos, Neos Kosmos, GreekReporter.com, PappasPost.com, Voria.gr, Parapolitika.gr, MetroGreece.gr, People Greece, NewsBeast.gr, Radio Neo Show, Antenna ANT1 Satellite TV, MEGA TV, Makedonia TV, Channel 9 (Το Α και το Ω των ακινήτων). GPE360.com is the only real estate website to have produced its own reality TV show called Hellenic Home Hunting (www.HellenicHomeHunting.com). Created, produced and edited by George Stroumboulis’ media company, BouliBrand (www.BouliBrand.com), this TV show caused an international media storm for controversy during the unstable economy period in Greece. Visit www.GPE360.com for the latest property listings and start your search, register for an account to sell or simply browse our news. Stay connected with us on Facebook (www.facebook.com/gpe360), Twitter (twitter.com/gpe360), LinkedIn (https://www.linkedin.com/company/greek-property-exchange-gpe-), YouTube (https://www.youtube.com/user/gpe360), and Instagram (www.instagram.com/gpe360/). Use the hashtag #GPE360 and #HellenicHomeHunting.



featured on the front page of

The Only TV Show Promoting
Greek Real Estate to the World!
WATCH FIRST SEASON