Housing taxes go up as Govt. tries to get more money to the budget

Property taxes will increase in Romania for owners of two or more properties which are not rented out. Taxes will grow by 30 percent for the first house (apart from the owner's home), by 100 percent for the second such property and by 200 percent for the third and the other properties one might have. The new taxes were included in the an emergency ordinance project which will change the Fiscal Code. 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.