New Property Tax Rates to Go Before Greek Lawmakers



File photo.

New rates of tax for property owners will go before Greece’s parliament on Wednesday.

The country’s Finance Ministry on Tuesday published details of new zone rates, which analysts say will see nearly a quarter of Greeks pay less Unified Property Tax (ENFIA).

However, earlier reports had suggested ENFIA could shoot up anywhere between 3.5 to 22 percent, or even higher — particularly in expensive parts of central Athens.

Over 2,100 zones in Greece will see a fall in property-tax rates. Nearly 3,800 zones will see a tax rise and 4,300 see no change.

Tax rises could range anywhere from €50 to €200 euros a year. Most legal entities — just over 60 percent — will see a fall in ENFIA.

Pressure has been exerted on the Greek government by international creditors who want to see a timeline for ENFIA hikes adhered to.