New Greece Property Tax Bill (ENFIA), Promises Significant Rebates

The Greek government on Tuesday submitted to Parliament a bill on a new uniform tax on real estate (ENFIA). The new bill includes a cut in ENFIA for small property owners and an increase for luxury property owners.

According to media reports, 6% of property owners this year will have to pay more, and the vast majority, about 5 million, will pay less than in 2021.

Of the approximately 6,200,000 property owners who currently pay ENFIA, 80% will see a marked reduction from last year’s rates. About 900,000 owners will see no change, while 320,000 will actually see a slight increase.

In addition, the new bill will expand ENFIA’s 30% discount on properties up to 100,000 euros each (up to 60,000 euros until 2021), and the 25% discount will be extended to properties ranging from 100,001 to 150,000 euros.

The main rates of the new unified property tax are as follows. For a zone with a tariff value from:

  • €751 to €1500 per sq.m tax will be reduced from 3.70 euros/sq.m. up to €2.80/sq.m.
  • €1501 up to 2500/sq.m. the tax rate will decrease from €4.5-6 sq.m. up to €3.70/sq.m.
  • €2501 up to 3000/sq.m. the tax rate will decrease from €7.60/sq.m. up to €4.50/sq.m.

The bill also provides for the payment of a single property tax in ten monthly installments compared to six tranches in 2021.

The ENFIA tax was introduced as a “temporary” measure in 2012, following pressure from the country’s creditors in the context of the first bailout deal.

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