No change to 'objective values'
ekathimerini.com, 4 May 2017
The property rates used for tax purposes (known as "objective values") will not be adjusted before next year after
all, and neither will the Single Property Tax (ENFIA).
The new rates will form the basis for the 2018 ENFIA, but the fiscal result will be exactly the same for state
coffers, with 2.65 billion euros of revenues being foreseen. New objective values will bring changes to the rates
used for the calculation of the tax, and it is highly likely that several exemptions from ENFIA will be abolished
as of next year.
Any expectations that owners may have clung onto that ENFIA might be abolished altogether – as government officials
pledge year after year – are vanishing, and they will have to wait until 2020 for the hypothetical application
of the so-called countermeasures for a reduction in the tax should the primary budget surplus exceed 3.5 percent
of gross domestic product.
The draft agreement between the government and the country's creditors says that technical difficulties have resulted
in the adjustment of the objective values to market prices being delayed by at least six months. Therefore, instead
of being ready by next month, the new system won't be up and running before early next year, with the 2018 ENFIA
notices due to be issued in March.