The tax bill is not a direct percentage of this figure but is derived through a specific formula that applies various coefficients to adjust for the property category and its intended use, whether residential or commercial. " This value is determined by the independent body known as the Independent Property Valuation Corporation (APEK), which assesses factors such as location, size, and type of construction.
Understanding Greece Property Tax for New Owners in 2024
This initiative aims to incentivize energy efficiency and retrofitting. Typically, the liability for the previous year is due in two installments: one in mid-Spring and another in mid-Autumn.
You can usually find this number on the official tax notice issued by the tax authorities or within the documentation related to the property's title. Residential properties generally benefit from a more favorable coefficient, resulting in a lower tax burden compared to commercial real estate.
Understanding Greece Property Tax for New Owners in 2024
Locating Your Tax Identification Number Every property in Greece is identified by a unique number on the property tax receipt, known as the "Αριθμός Φορολογικού Διαμέρισματος" (AFD). Special Considerations for Foreign Owners Foreign nationals purchasing property in Greece must be aware that they are subject to the same tax rules as local citizens regarding property taxation.
More About Property taxes greece
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