Changes to ENFIA property tax weighed up

Greece’s Finance Ministry officials are looking into ways of lowering the ENFIA property tax for middle income households in a bid to offset a recent increase in home tax values that bumped up the real estate levy.

As part of a move to up state revenues, the Finance Ministry broadened in June the number of home owners subject to the ENFIA charge around Greece. This step also involved upping property tax values on most parts of the country, bringing them closer to market prices.

Data shows that in 55 percent of districts, the increase in tax values will be 19.5 percent for home owners and that a drop of 14.7 percent arose in 21 percent of districts. Figures remain unchanged in 24 percent of areas.

As part of efforts to offset these hikes, ministry officials are considering lowering ENFIA rates, depending on the age of the building, or lifting the limit on which the additional ENFIA tax applies, from 250,000 euros to 300,000 euros.

Different options are being assessed before any decision is made that will be applicable as of 2022, say ministry officials.

Notification of the ENFIA tax is sent to property owners once a year, normally in September.