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Property Taxes

For those wishing to buy property in Greece, we present a summary of the tax system, you will encounter buying a house by the sea. Since 2011, Greece operates two real estate tax: ΕΕΤΗΔΕ (special tax on electricity supply area), fits into the electricity bill, and is popularly referred to as “haratsi.” FAP (property tax), which is calculated in a tax return each year.

Both taxes are calculated on the basis of the cadastral value of the property in a certain area , and depend on the year of construction. Since ΕΕΤΗΔΕ  tax was introduced in 2011 on an emergency basis , valid for two years , then in 2013 he no longer has to act . However, the need to replenish the state budget is still there . In this regard, the Parliament in the coming days will decide : to extend the ” haratsi ” in 2013 (possibly reducing it to 15% for low-cost houses ) or to replace both existing tax on a new one – single tax on real estate.
For taxpayers ” non-elite ” units in most cases the new tax will be significantly lower than both the previous combined. They ‘re planning  to introduce a tax-free minimum amount of EUR 50,000 for a single person and € 100,000 for a family. The single tax of 0.1 % on the amount from 50 to 100 thousand euros , 0.2% – from 100 to 200 thousand . With an increase in the list of taxable objects , which will include land and other agricultural use, parking lots, commercial space , residential housing without electricity , auxiliary facilities . Tax calculation for each of these categories will be held on individual tables . The amount of tax is reduced  for the unemployed and for farmers.
However, the law has not yet been finally adopted, so there is no clear explanation of the correct method of its calculation. Accounting organization previously calculated tax for customers, relying on their experience and previous similar methods of calculating taxes. Therefore, the evaluation of the same object from different accountants while not always the same. Owners of small and inexpensive real estate will doubtless win.
The owners are not fully legitimate real estate should be taken into account when calculating the total area of ​​the property , including the ” semi-open space ” for the legalization of which they had previously paid a fine. For example, before a homeowner in 80 square meters cost 120,000 euros paid ” haratsi ” 480 euros, and a new tax for this case will be 90 euros . If he has a ” semi-open ” space , the new estimated cost is 195,000 euros, and a new tax – 240 euro. If the house is located on land worth about 100,000 euros , the additional tax for the land is not less than 200 euros.
The actual amount of tax in each case will be calculated individually professional accountant after the new law will be adopted . Since the adoption of the new law and clear instructions out six months , property owners with certainty about their tax liability for 2013 will know in early 2014 . The authorities are currently discussing the introduction of more sparing property tax system and do not plan to impose new taxes on the property , except for those that have already been approved by Parliament .

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