“Coal” will finally be the “treasure” for 155 municipalities of the territory regarding the outcome of the objection they have submitted to the Ministry of Finance, against the latest increases in the objective values applicable to property transfers from the beginning of 2022.
According to exclusive information, out of a total of 169 applications that had been submitted to the Karageorgi of Serbia, only eight will proceed with the redetermination of tax zone prices for the time being, while six others have been asked to submit additional data with high chances for them as well that their objection be fully examined and a positive development emerges and that the increased objective values be revised.
At the same time, the Ministry of Finance is expected to proceed with the inclusion of 320 off-plan areas in the objective property value determination system, while in the next phase another 500 off-plan areas are expected to be included in the objective values. At the same time, changes are planned in the zone values of 100 – 200 areas that are within the objective system but remain outside the building plan.
According to the same information, within 2024 there are not expected to be any generalized readjustments – increases in real estate zone prices despite the fact that real prices in the last two years have soared.
With the changes launched in the non-planned areas, more owners will join the objective system and the revenues from ENFIA remain at the levels provided for in the budget, so there is no need for other increases for the time being, as they note competently.
The objections
As regards the Municipalities, which according to the information, the objection of their mayors against the latest increases in the objective values has been accepted, the following are included: Agios Anargyro-Kamaterou, Vrilissio, Ithaki, Karpathos, Loutraki, Symi, Chalandriou and Pyrgos. The other 6 municipalities, namely Astypalaia, Glyfada, Mykonos, Piraeus, Rhodes and Leros, were asked to submit additional information in order to examine their objection. These items have been successfully submitted and their appeal is pending consideration. If it is accepted then for all these 6 municipalities there will be a repetition of the process of determining the zone values of their areas. In other words, in total, out of the 169 municipalities that appealed, at best, to change the objective values in 14 municipalities, a percentage of only 8% of the total objections.
The appeals of the remaining 155 municipalities were rejected due to incomplete files and according to the information, these municipalities include the largest of the country, that of Athens.
The new zone prices for the Municipalities whose adjustment process will proceed will be determined after an appraiser’s evaluation with the Minister of Finance having the final say.
As a competent agent of Karageorg Serbia states, “the examination of the objections, which have been submitted by 169 municipalities of the country, regarding the determination of zone prices effective from January 1, 2022, has already been initiated by the competent Committee. The task of the latter is to submit a proposal to the Minister of National Economy and Finance to determine the municipalities for which it will be decided to repeat the process of determining zone prices”.
Many municipalities of Attica, such as Zografou, Vrilissi, Amarousi, Kallithea, Ag. Dimitriou, Pallini, Moschato-Tavros, Petroupoli, but also Glyfada which is waiting for the final answer to the objection it submitted after submitting additional information.
From the rest of Greece, the objections of the municipalities of Corinth, Kalamata, Rhodes, Kilkis, Pylos, Samos, Corfu, Patras, which do not seem to have been approved by the competent committee of the Ministry of Finance, stand out. On the contrary, the objection of the municipality of Pyrgos, as noted above, seems to have a positive outcome.
Return to 2021 levels
Most of the municipalities that have appealed to the competent committee of the Ministry of Finance essentially request that the zone prices return to the level of 2021, which was also the last increase in objective values.
The new revised objective values, in whatever areas are changed, will not apply retroactively. This practically means that one will not be refunded the difference of the above ENFIA who has paid transfer taxes or other taxes and fees. They will apply from now on and will most likely affect the calculation of the ENFIA from 2025 onwards.
New ok
As for the new ones included in the objective system for determining the taxable value of real estate, even with these additions prepared by the Ministry of Finance, hundreds of areas will remain excluded. This is because according to data from the authorities today, the system for the objective determination of real estate values covers 13,808 zones and 2,167 zones remain to be completed.
Only in Attica, for example, areas from Varkiza to Legraina, Agia Marina, Agios Nikolaos, Haraka, Daskaleio, areas from Porto Rafti to the area of Thorikos, areas in the coastal zone of Aspropyrgos, areas in the islands of Salamis, Kythera, etc.
Joining the scheme will bring automatic adjustments to ENFIA, transfer taxes, TAP, subsistence allowances and presumptive income and to fees and contributions calculated on the basis of fair value.
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