Hellenic real estate taxes thrice as high!

A “bound” budget characterized by debt and recession was delivered in Parliament by Evangelos Venizelos. Despite the “tsunami” of new measures amounting up to 7.1 billion euros, despite the measures of 6+6 billion euros planned for the summer of 2011 and 2012 by the Medium Term plan, the yield on government revenues and the deficit will be disappointing at best.

The ordinary revenues of the state budget in 2012 are projected to increase by only 1.5 billion. From 54.4 billion (God willing) this year, they are expected to increase to 55.9 billion in 2012. Indirect taxes will be fewer this year, due to the recession and a reduction in transaction taxes. They are estimated to reach 20.6 billion compared to this year’s 20.7 (-0.2%).

Because there is no more “the money is there”, this  lack of funds will be covered with an “offensive” to both “definitive” pillars of the state budget:

- The disposable income of every household, with increases in indirect taxes of up to 14.3%.
- Real estate, where taxes doubled this year and are expected to triple within the next: From 487 million in 2010, they must attain a target of 1.1 billion by December (+131.5%), but must reach 3.8 billion  in 2012 (217.6% compared to this year, and eight times as much compared to 2010!).

Please note that the government expects no revenue from combatting tax evasion before 2013!