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Greece’s new property tax bill (ENFIA) with substantial reductions for millions of owners

The Greek government has tabled in parliament the bill on the new property unified tax (ENFIA) on Tuesday. The new bill includes ENFIA reductions abut also increases for property owners.

According to media reports, a 6% of property owners will have to pay more this year, while the vast majority of owners, some 5 million, will pay less than they did in 2021.

Of the approximately 6,200,000 property owners currently paying ENFIA, an 80 percent, will see a distinct reduction in comparison to last year’s rates.

Some 900,000 owners will see no change, while 320,000 will actually see a slight increase. According to reports the increase will affect properties in zone rates over €4,500/sq.m., many of them on high end touristic islands.

Furthermore, the new bill will expand the 30% ENFIA discount for properties worth up to €100,000 euros each – it was up to €60,000 until 2021 –  and the 25% discount will expand to properties of €100,001-€150,000.

The main rates of the new Single Property Tax are reportedly as follows:

For zone rates from 751 to 1,500 euros per square meters, the tax will drop from €3.70/sq.m. to €2.80/sq.m. The €1,501-2,500/sq.m. zones will see their tax rate drop from €4.5-6 sq.m. to €3.70/sq.m. For the €2,501-3,000/sq.m. zones, the tax rate there will fall from €7.60/sq.m. today to €4.50/sq.m.

The bill also provides for the payment of the Single Property Tax in up to 10 monthly installments, up from six tranches in 2021.

The ENFIA tax was introduced as a “temporary” measure in 2012 following pressure by the country’s lenders in the context of the first bailout agreement.

As we say in Greece: ουδεν μονιμότερο του προσωρινού = nothing more permanent than the temporary.

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  1. Why no mention of zone rates below 751? Have these been abolished? On my ENFIA statement last year my zone rate was shown as €600 per sqm and also on my latest electricity bill issued a few days ago.