Half of Greek Homeowners Can’t Pay Tax



HouseJust over half of Greek homeowners say they will not be able to pay all their property taxes this year, according to a new poll. The Kapa Research survey for the Hellenic Property Federation (POMIDA) found that of 1,414 people questioned, 54 percent said they would not have enough money to cover the cost of a range of property taxes that have to be paid in 2013.

Just under 50 percent said they doubted whether they would be able to meet their mortgage repayments this year, while about 25 percent are already falling behind in their monthly payments.

Regarding landlords who rent out their properties, 82.7 percent said that they are losing money from their real estate assets rather than making a profit. Property taxes were doubled by former finance minister Evangelos Venizelos, now head of the PASOK Socialist party that is a partner in Prime Minister Antonis Samaras’ coalition government.

The tax is put into electric bills under the threat of power being turned off for non-payment. Venizelos also doubled income taxes and assessed taxes on poor Greeks for the first time, but despite the tax hikes revenues are falling short of expectations because people can’t afford them as many have also had their pay slashed and pensions cut.