5 ms·

http://www.globalpropertyguide.com/Europe/Greece/Taxes-and-Costs http://www.globalpropertyguide.com/Europe/Greece/Taxes-and-C... It looks like property tax top

http://www.globalpropertyguide.com/Europe/Greece/Taxes-and-Costs http://www.globalpropertyguide.com/Europe/Greece/Taxes-and-C... It looks like property tax tops out at 2% annually of assessed value. This is similar to tax rates in Wisconsin, but if they play the same games in Greece that some local governments do, the properties are assessed well above anything you could sell the property for.

tome 10y ago
The government should be obliged to purchase the property for the assessed value then.
- deleted 10y ago
  [deleted]
Foivos 10y ago
The goverment defines the "objective value" of the property, which usually is way higher than the market value. The taxation is based on this "objective value"
ferongr 10y ago
They probably do. My apartment was made in 1963, 63sqm (670sqft). "Zone price" (i.e. what the government considers the price of 1 sqm of development in a certain region) is 1100 euros, building age multiplier for that is 0.60 so we end with a 660 euro/sqm pric, for a total assessment of 41580 euros. I'd be lucky if I got half of that If I actually tried to sell it at the moment.
- Luc 10y ago
  One of the comments on the article claims there's 0% tax up to 200k property value. Is this incorrect?
  - ferongr 10y ago
    Yes, since I pay the tax any the property value in my name is just that apartment. All owners have to pay this tax (ENFIA). There are some reductions for unemployed people but no 0% rates.
  - antnisp 10y ago
    If that were true, all but the most expensive apartments would be tax-free. Btw 200k is about 12 times the average annual income.
- webscaleizfun 10y ago
  What area are you in? Compared to Seattle/Portland/San Diego prices, 40k euros seems cheap for a 1963 670sqft apt. A similar house in Tacoma would run 110k euros right now, and it is a terrible location.
  - ferongr 10y ago
    It's in Kallithea, a generic south-European concrete-jungle urban center. Also, I'm not sure it's fair to compare property values between the US and Greece. The average person working on the private sector would be lucky if he made $10000/year at this point in time.
    - webscaleizfun 10y ago
      Perhaps property value is in line then if 40k euros is an inflated price, I think 110k euros in Tacoma is a price too high for that area myself, the average income down there is around 22k euros a year for a working person [1]. [1] - http://www.bestplaces.net/economy/city/washington/tacoma http://www.bestplaces.net/economy/city/washington/tacoma
  - tome 10y ago
    ferongr is in Greece presumably. Compared to UK prices (at least in the south east) 110k euros is phenomenally cheap itself.
    - webscaleizfun 10y ago
      Dude, you can't even buy a crackerbox in Seattle for 300k euros anymore, a 500sqft apartment has gone from 270k euros to 400k euros in the past 2 years, and that is before the 4500 euros you'll pay to go to an "exclusive" wine tasting/auction to bid on the few units that are up for sale.

tome 10y ago

The government should be obliged to purchase the property for the assessed value then.

deleted 10y ago
[deleted]

Foivos 10y ago

The goverment defines the "objective value" of the property, which usually is way higher than the market value. The taxation is based on this "objective value"

ferongr 10y ago

They probably do. My apartment was made in 1963, 63sqm (670sqft). "Zone price" (i.e. what the government considers the price of 1 sqm of development in a certain region) is 1100 euros, building age multiplier for that is 0.60 so we end with a 660 euro/sqm pric, for a total assessment of 41580 euros. I'd be lucky if I got half of that If I actually tried to sell it at the moment.

Luc 10y ago
One of the comments on the article claims there's 0% tax up to 200k property value. Is this incorrect?
- ferongr 10y ago
  Yes, since I pay the tax any the property value in my name is just that apartment. All owners have to pay this tax (ENFIA). There are some reductions for unemployed people but no 0% rates.
- antnisp 10y ago
  If that were true, all but the most expensive apartments would be tax-free. Btw 200k is about 12 times the average annual income.
webscaleizfun 10y ago
What area are you in? Compared to Seattle/Portland/San Diego prices, 40k euros seems cheap for a 1963 670sqft apt. A similar house in Tacoma would run 110k euros right now, and it is a terrible location.
- ferongr 10y ago
  It's in Kallithea, a generic south-European concrete-jungle urban center. Also, I'm not sure it's fair to compare property values between the US and Greece. The average person working on the private sector would be lucky if he made $10000/year at this point in time.
  - webscaleizfun 10y ago
    Perhaps property value is in line then if 40k euros is an inflated price, I think 110k euros in Tacoma is a price too high for that area myself, the average income down there is around 22k euros a year for a working person [1]. [1] - http://www.bestplaces.net/economy/city/washington/tacoma http://www.bestplaces.net/economy/city/washington/tacoma
- tome 10y ago
  ferongr is in Greece presumably. Compared to UK prices (at least in the south east) 110k euros is phenomenally cheap itself.
  - webscaleizfun 10y ago
    Dude, you can't even buy a crackerbox in Seattle for 300k euros anymore, a 500sqft apartment has gone from 270k euros to 400k euros in the past 2 years, and that is before the 4500 euros you'll pay to go to an "exclusive" wine tasting/auction to bid on the few units that are up for sale.