Property-related taxes to drop next year

Property taxation will ease further next year, according to Finance Ministry plans, as the inclusion of new areas in the system of zone rates used for tax purposes (the "objective values" system) is creating some fiscal leeway for interventions as of 2020.

A ministry official has told Kathimerini that the dry run of the new objective values will be completed in May and the result will reveal whether there is any scope for a further reduction in property tax rates. "I have the feeling there will be some fiscal leeway" from this exercise, the ministry official said, assuring that there will be no regressing on the cuts already implemented this year.

The inclusion of 7,000 new areas in the objective values system is expected to fetch revenues of 400-500 million euros, an amount that is absolutely realistic according to ministry sources. The additional revenues to stem...