New adjustment expected on properties’ taxable rate in 2020

Property rates used for tax purposes, known as “objective values,” will be adjusted next year and again in 2020, Deputy Finance Minister Katerina Papanatsiou confirmed on Wednesday.

“The objective values were harmonized with the market rates, but distortions were identified. To stabilize the market and the prices, [we will bring objective values into line with market prices] in the next couple of years, but this will be immediate in areas where problems have emerged,” stated Papanatsiou.