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New objective values: 2 in 3 property owners to pay same ENFIA as last year

Two in three property owners in Greece will pay the same unified property tax (ENFIA) as last year. A ministerial decision published on Tuesday, sets the new objective values according to which the property tax will be calculated. ENFIA increase will affect 960,000 owners who will pay from 1 to 200 euros more than in previous year.

In  a total of 10,216 objective value zones across Greece: ENFIA will be decreased in 2,122 zones, remain the same in 4,302 zones and increase in 3,792 zones.

1,470,962 property owners (23%) will pay decreased ENFIA and 3,995,181 (6,2%) will pay the same as last year.

  • 737,709 property owners will see an increase of up to €50
  • 160,000 owners an increase €50 – €200
  • 48,961 owners an increase of more than €200

The new objective values according to zones have not been published so far, but just the statistics.

ENFIA tax notifications are to be issued in August, the first installment is to be paid in September and the last in January 2019.

The property tax will be calculated on the new objective values and not on those of January 2008, that is before the economic crisis. Objective values were lower than the commercial values, with the economic crisis commercial values turned lower than the objective values.

I hope, this time, the finance ministry experts got it right.

The government aims to collect 2.65 billion euros from the ENFIA that has been calculated with an algorithm stimulation showing a collection rate of 80 percent.

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