New property tax rates to be released in December, first installment due March 2022

The changes in the property tax (ENFIA) owners are expected to pay in 2022 will be released in December, the Finance Ministry said on Saturday, noting that the overwhelming majority of payers will see reductions.

The new ENFIA rates are scheduled to become law by January 2022 and the bills expected to be sent out in March 2022, with the first installment due March 31. It is as yet unsettled if there will be 10 or 12 installments. In the former case, the last installment would be due December 31, 2022, in the latter on February 28, 2023.

A task group on the project is chaired by Deputy Finance Minister Apostolos Vessyropoulos, and is expected to present its final proposals in November.

According to Finance Minister Christos Staikouras, the new property tax will not be tabled with the state budget. However, the government’s plan is to reduce ENFIA even further, although “the present government has reduced it on average by 22%” already, he asserted.

In data already released for 2021, a total of 68,542 businesses and entities are called to pay for properties a total of 494.2 million euros (of which 278.01 million are supplementary taxes). In terms of individuals, 7,180,009 million have been billed with 2.09 billion euros (with 368.4 million of this being supplementary taxes, for owners with properties worth over 250,000 euros).