taxes abolished, property holding tax introduced
update of the Hellenic Stability and Growth Program 2007-2010, December
A draft law, submitted to Parliament in December, reforms and simplifies
property taxation and has two main elements.
First, it abolishes real estate inheritance taxes for close relatives.
As with any transfer of real estate property, there will be a fee of
1% on the objectively defined value, instead. However, the acquisition
of a first residence (up to 200 m2) is exempted from this transfer
Second, a unique property holding tax is introduced, replacing a variety
of taxes levied on real estate holding today. The rate is set at 0.1%
for households and 0.6% for corporations. Again the primary residence
of households is exempt, for houses up to 200 m2 with objectively defined
value up to €300,000.