Housing taxes go up as Govt. tries to get more money to the budget
The new taxes will also be applied for the period between when the urgent ordinance will be enforced and the end of this year. The new tax levels will be calculated and sent to tax payers within 30 days from the moment the ordinance is published in the Official Gazette. Even if you already paif your due taxes this year, you will still have to pay the difference, under the new law.
The current legislation states that a second property will be taxed by 15 percent more than the first, the third, by 50 percent, the fourth, by 75 percent, and the fourth and the following, by 100 percent. The level of due taxes is determined based on the date when the properties were purchased.
However, if you have legally inherited the property, you won't have to pay these extra taxes.