When buying Greek real estate, you will have to pay a transfer tax. But in the future there also will be annual state fees. The law on the unified real estate tax came into force on January 1, 2014. The tax consists of a basic and additional tax.
The basic tax isn’t fixed and depends on the location of the property, its value, the age of the house, and so on.
The amount of this fee depends on a combination of various factors: the location of the property, year of construction, area, floor, cadastral value:
For example, for an apartment of 70 sq.m. on the first floor of a house built 15 years ago in one of the neighborhoods of Athens the tax amount will be about €230 per year.
This is sort of a "luxury tax". The additional tax must be paid, if your property costs more than €300 000. The tax rate depends on the property value:
The additional tax does not include land plots outside of localities in the case of a total real estate valuation. It also does not include buildings older than 100 years and the sites where they are located that are classified as protected monuments or works of art.
Large families (with three or more children), as well as families where the father/mother/child has a disability of 80% or higher are exempt from paying property tax.
The 50% discount is given to:
The amount of municipal tax (for garbage collection, street cleaning, etc.) varies from 0.025% to 0.035% of the price of the property and depends on the location and area. These fees are included in the electricity bill.
When you have understood how much you should pay the state, you need to prepare for the procedure itself. You need to issue a taxpayer identification number to pay property taxes in Greece. The tax comes in the form of receipts sent out by the tax service.
You can pay the tax from abroad by bank transfer or in cash via the post office. In addition, an authorized lawyer can deposit money on behalf of the property owner.
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