Property owners in Greece will pay a new Single Property Tax in July 2014. It is expected that the tax will be paid to the owner in installments over six months. This bill will be discussed by Greek Parliament on October 28, reports ee24.com citing ekathimerini.com.
In May 2014 the payment of tax, included in cost of electricity bills for the current year, will be completed and the new tax immediately begin. The new tax will attract €2.65 billion. It is planned that in 2015 the Single Property Tax will be divided into nine parts.
Meanwhile, the creditors are expressing uncertainty in the success of the new tax, and require to take action to bring an extra €400 million. It has already been decided that the €200 million will be taken from the public investment program. The source for remaining amount is still to be found.
New tax burden will fall primarily not on the owners of small objects, but on those whose housing costs at least €300,000, since they will be charged an additional fee, which should bring the total of €380 million into treasury. Another €280 million additional fees will be collected from corporations.