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“Unified tax law on property” is out: run and ruin as fast as you can

The much anticipated “unified tax law on property” is out. It will unify the regular property taxes and the emergency property tax, with the latter being imposed in 2011 originally for two years. While the EPT was imposed only to property with electricity connection, the Unified Tax will be imposed to all properties: plots or buildings, with or without electricity. Then Greece needs to collect some 4 billion euro per year – from what a Greek would hate to give up: his beloved property.

Buildings: The basic tax ranges from € 2,3/m2 to € 17/m2 and is determined by the current commercial value (status of 2009!) of the building, defined in 20 different tax zones and in consideration of other factors as well like age, number of facades, floor, utility rooms.

All these several factors can sum up to a nice 8 euro/m2 and cost some 700-800 euro per year, in addition to the property tax paid to municipality.

Land Plots: tax ranges between €1,50 and €2.25 per acre (=100 square meters I think) but it also depends on location and there are three different zones.

From the new super taxation with ownership title are not excluded: chicken coops, livestock corrals, barns, acres of waste land, cultivated land and even parking plots.

The tax-free amount for properties with value up to 200,000 euro for main residence disappears.

Exceptions for socially vulnerable groups

50% exception of the property tax will be paid by those with annual income of 7,000 euro plus 1,000 euro per child for up to 2 children

100% exceptions for families with annual income of 7,000 euro and more than 3 children (annual income 10,000 euro).

The draft law is currently uploaded in open for public consultation. It is expected to go into effect as of 1.1.2014.

If you live in an apartment of 100 sqm in a zone of 1,600 euro, you could pay 60-70 euro per month to the state, in form of rent in order to live in your own home.

Full list of tax zones, and other regulations considering businesses here in Greek.

Yes, you will pay tax for this too!


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  1. An acre is 4046.86 square metres, not 100 square meters, as you “think”. A quick use of Google could have given your post a bit more credibility.