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Keep calm & fasten seat belts: “Earthquake”-Levy to be imposed on Greek properties

Greeks’ properties are an inexhaustible source of revenues. This is what the Troika and the Greek government  think. After forcing property owners to pay extraordinary ’emergency taxes’ as a kind of small rent to the state for the house/flat/apartment they live in, a new levy is coming just around the corner: the Earthquake Levy!

According to Greek media reports,  the Troika demands that all properties on Greek soil will be insured against  natural disasters! As the possibility of a tsunami, a volcanic eruption, Noah’s flood, fire pouring down from the sky and other geological processes are highly unlikely to happen, they call it “Earthquake Levy”.

It is not clear yet, how high exactly the levy will be, but Greek media claimed of some 100 euro per year.

The claims on the levy were confirmed by Environment minister Giorgos Maniatis.

“It’s a direction towards which the country has to move with much attention in order to avoid and burden the citizens in dire economic situation.  But at the same time we must ensure that we avoid the damages we suffered in the past,” Maniatis told private Mega TV on Tuesday morning.

Is it coincidence that the Earthquake levy comes together with lifting of the ban on home foreclosure? Certainly not. What’s the point of seizing a house if it gets damage by the next earthquake?

However I still wonder who are these clowns ruling Greece right now.

PS here is an interesting article about Earthquake levy – paying mortgages in … New Zealand

my 19th property tax nervous breakdown

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7 comments

  1. great idea, most countries have insurance available for a reasonable price and 100 euros a year is a bargain. KTG, why so negative about this? If your house collapses due to an Earthquake you’ll be glad the Troika is looking out for you I think. 🙂

  2. keeptalkinggreece

    I am endless thankful to Troika for taking good care of me. my problem is that I have no 100 euro to spend on Troika. Furthermore our building swings so nicely due to high quality anti-earthquake standards.
    PS 100 euro insurance per year is a good bargain to get 15,000 euro after home gets damage. and find a small apartment to rent for 2-3 years.

  3. I already pay a fortune in house insurance that adequately covers my house in the event of earthquakes. Now they want to steal another 100 Euros

  4. Liz, you should be able to “opt-out”. When your bill comes, just explain to the authorities that you already have earthquake insurance and I’m sure they will let you not pay.

  5. I am too angry to comment on these blood sucking psires..

  6. Sally Constantine

    Our house on Crete is 160 years old – it cannot be insured against earthquakes as it is built of stone and therefore does not meet modern standards. Along with 95% of the properties in the village!

  7. keeptalkinggreece

    the law is not ready yet.