Greek government considers eliminating real estate tax exemption

According to reports, during the meeting between George Mavraganis and representatives of the political parties supporting the government, all sides set two key objectives:

• the new tax should collect about 750-800 million euros in addition to what is collected from real estate taxes today
• reducing the burden on homeowners by up to 50% compared with what they pay today (real estate tax and special fee for electrified structured surfaces)

To achieve this, more homeowners will have to pay a little something each. So the Greek government is considering whether to apply a very low property tax-free limit in the calculation of the new single real estate tax, or completely eliminate the tax-free limit.

If they actually do proceed with the latter, the annual tax might be calculated by rates that will start low, perhaps at only 0.05%. This means there will be a 20-50-euro tax imposed on minor owners annually.

But these rates will escalate above a limit value (50,000 or 100,000 euros) to 0.1% and will increase depending on the amount of real estate.

By Friday and the additional meeting, the Finance ministry must propose the ideal scale for taxing homeowners

The way officials will count in the value of agricultural plots is also a focal point in these discussions. The Greek government is considering creating special categories and taxing credits for agricultural plots, depending on the region and its use and condition.