Mid-June date given for new objective values for properties

The new “objective values” (property rates used for tax purposes) will be published on June 14, a senior Finance Ministry official revealed on Tuesday, which is also likely to lead to considerable delays in the issue of notices for this year’s Single Property Tax (ENFIA).

As soon as the objective values are announced, the government will have to decide whether it needs to modify the ENFIA rates or not.

The ministry will also have to conduct trials to establish whether – and how – the 2018 ENFIA will lead to the collection of at least 2.65 billion euros.

At the same time, it is certain the government will be trying not to alienate voters in zones where rates are expected to grow.

For now the ministry’s task force and the creditors’ technical staff are still cooperating in an effort to determine an algorithm to calculate the zone prices across Greece, even where there is insufficient data for rate assessments.