Greece to Cut Controversial Property Tax by 30 Percent Over Two Years



The new Greek government will introduce new legislation before Parliament by the end of July which would reduce the Single Property Tax (ENFIA) by approximately 30 percent for all property owners within a couple of years, starting in 2020.

According to government sources, quoted by Greek newspaper Kathimerini, the changes which will begin to be applicable as of next year foresee a horizontal 20 percent reduction in 2020 and a further ten percent in 2021.

The changes which will be introduced mean that property owners who currently pay 500 euros in ENFIA each year will see a 100-euro reduction in 2020, paying 400 euros, and a further reduction by 50 euros in 2021, to 350 euros.

Owners of large properties paying 2,500 euros in ENFIA per year will get a 500-euro reduction next year, paying 2,000 euros. Kathimerini reports that a further ten percent decrease will apply beginning in the year 2021.