The Troika has come up with new objections and demands on the property tax bill, and have asked the Greek government not to submit it to parliament as further modifications need to be made.
The final meeting will be held on Tuesday, December 3, and the Troika along with Greek officials from the Ministry of Finance will try to bridge the gap. Both sides hope that they will be able to reach an agreement, however the negotiations are expected to be tough.
It is estimated that the new real estate tax bill will bring in 2.9 billion euros to the Greek Government, which the Troika believe is doubtful.
The current bill proposed by the Greek government foresees that each property will be separately taxed at a lower rate. Properties that are worth over 300,000 euros will be additionally taxed. Finally, agricultural land will not be included in the additional tax and will be subject to lower rates.