The new law introduces changes to the Annual Property Tax (ENFIA) regime, that has been applied from 1 January 2018, which impact both ENFIA components (main tax & supplementary tax).
|Previous regime||New regime|
|Price zone (€/m2)||Basic tax (€/m2)||Price zone (€/m2)||Basic tax (€/m2)|
|551- 750||2,80||501- 750||2,80|
|751 – 1050||2,90||751 – 1.000||2,90|
|1051 – 1.500||3,70||1.001 – 1.500||3,70|
To be noted that earlier in June, Ministerial decision (POL. 1113/12.06.2018) adjusted the price zones on the basis of which the statutory value of real estate is calculated. The new price zones will apply for all areas of taxation as of 1 January 2019 whereas for ENFIA purposes they will apply as of 1 January 2018. As per the Ministry of Finance a total of 10.216 price zones have been adjusted to reflect market values in areas within town planning. The values of 2,122 price zones were reduced, the values of 3,792 price zones were increased, whereas 4,302 remained stable.
Besides the above, a new department of valuations and statutory values is established within the Ministry of Finance in order to observe and adjust the statutory values on an ongoing basis.