Finance ministry announces new process for recalculating property values

A group of special valuators, certified with the finance ministry’s register, will be used to recalculate new objective property values by March 2018, with the aim of overcoming objections raised recently and adhering to a timetable set in a third review of the Greek bailout programme.

The finance ministry tabled an amendment in Parliament on Friday defining this special process to be implemented only once, for the purpose of readjusting property values in the country.

These certified special valuators, to be selected following open and transparent procedures, have the necessary knowledge, information, expertise and integrity to perform this duty, the ministry noted.

The tabled amendment also envisages that each Greek region should set up commissions to recommend any future adjustment in objective property values.