Correcting inequalities in property tax

The Finance Ministry is seeking to remedy some serious inequalities in property taxation over the coming months in cooperation with real estate associations, part of another effort to adjust the property rates used for tax purposes and known as "objective values."

This concerns various asymmetric methods in the calculation of values as well as the Single Property Tax (ENFIA), placing an excessive tax burden on properties (especially older ones) in major cities, while luxurious mansions or plots of land by the sea have very low taxation, benefiting from the fact they have been left out of the objective value calculation system.

A typical example of uneven property taxation is seaside plots in areas of high tourism interest. These properties - despite their increased commercial significance - are treated by the tax authorities as farmland. For instance, at the moment...