Push for new objective values to come faster

The Finance Ministry is urging property surveyors to complete the alignment of property rates used for tax purposes (known as objective values) with market prices.

Having been suspended in April due to the lockdown, the process needs to be completed as soon as possible, with Minister Christos Staikouras deciding to give surveyors an October 5 deadline for the submission of their recommendations.

The reason that a deadline of just six working days is being granted is that 90% of the recommendations have already been submitted. Right after October 5, the ministry's competent agencies will assess the input and start implementing the adjustment to objective values across the country. They will also incorporate an extra 3,000 zones into the system of objective value determination.

The European Commission's enhanced surveillance report on Greece, published this week,...