Property taxes to go up next year in Romania

Most local authorities in Romania will increase the tax on residential properties paid by the population by an average of 25% next year. At the same time, the taxes for the properties owned by individuals, but used for economic activities, such as company headquarters or offices, will go up as much as 26 times, according to a study made by local fiscal consultants, cited by local Mediafax. The local authorities had to approve their taxes on properties for next year by November 7. The study analyzed the new taxes in 50 of Romania’s biggest cities where such data has been made public. “For the first time in the last 25 years, the tax on property doesn’t take into account if the owner is an individual or a company, but the use of the property: residential or economic." Thus, the properties owned by individuals that are used for company headquarters and offices will be taxed higher, with up to 2% of their value. editor@romania-insider.com