The relevant finance ministry on Monday morning announced an average increase in the objective property value rates used to annual tax real estate in the country, and to tack on taxes for transactions.
According to reports, nearly 60 percent of 13,808 individual zones will experience an increase in the specific value rates.
However, in a clarification, Finance Minister Christos Staikouras said the increases will not necessarily affect the yearly property tax (ENFIA) for 2022.
A breakdown of the decision shows an average increase in the objective value of 19.5 percent for 55 percent of the zones; objective values in 24 percent of zones will remain the same, while for the remaining 21 percent of zones the average decrease is calculated at 14.7 percent.
In 133 zones, mainly in high tourist demand areas, such as certain islands, the average increase in value rates reaches 41 percent.
