Hungary mulls new real estate tax

Hungary mulls new real estate tax

Hungary’s government is apparently mulling a new real estate tax. A bill submitted to Parliament shows that as of 2013 local governments may demand up to 10% of the value growth when owners sell their property.

In order to turn this idea into reality, however, the municipalities will first need to meet a number of conditions: to come up with a local building regulation and establish a register of real estate values in line with related regulations.

Source: http://www.portfolio.hu/en/economy/hungary_mulls_new_real_estate_tax.24247.html