From 2013 onwards, every owner of real estate in Greece is subject to an annual tax for his property. This tax is called “Uniform Real Estate Property Tax”, or “ENFIA”. The principal tax is calculated based on each property’s value, in relation to the aggregate value of properties that each tax payer owns.
ENFIA is usually paid in a number of installments per year (five or more), during the second half of each calendar year. This tax is imposed on both entities and individuals, regardless of whether they are permanent residents of Greece or not, or if they maintain their tax base in the country.
A supplementary ownership tax is also imposed on owners, whose property assets are valued at above 250,000 euros. This supplementary tax has a rate which start from 0.15% and rises up to 1.15% for real estate assets worth more than 1 million euros.
Greek Property Tax Calculation Method
ENFIA is calculated by multiplying the property’s square meters with the tax’s climax, ranging from 2.5 – 16.25 sq. m. and other coefficients affecting the value of the property, like its location, the floor it’s at, its use etc.
There are 20 different tax coefficients (from 33 originally), starting from 2.5 euros/sq.m. for properties located in a zone, whose objective value isn’t higher than 500 euros/sq/m. They can rise up to 16.25 euros/sq/m. for newly built residences with a zone value above 5,000 euros/sq.m. The basic calculation board for older properties (over 25 years old) is the following:
|Zone Value (€/sq.m.)||Principal Tax (€/sq.m.)|
|0 – 550||2,00|
|501 – 750||2,80|
|751 – 1.050||2,90|
|1.001 – 1.500||3,70|
|1.501 – 2.000||4,50|
|2.001 – 2.500||6,00|
|2.501 – 3.000||7,60|
|3.001 – 3.500||9,20|
|3.501 – 4.000||9,50|
|4.001 – 4.500||11,10|
|4.501 – 5.000||11,30|
To determine the tax, there’s also a floor coefficient, while there also coefficients reducing the tax rate, including that of any auxiliary spaces. According to the legal framework on the tax, the size of the property subject to tax can be reduced, if it’s a special use building.
The age coefficient can be calculated using the following rates:
Tax Coefficient for the Age of a Property
26 years and above 1
20 – 25 years old 1.05
15 – 19 years old 1.10
10 – 14 years old 1.15
5 – 9 years old 1.20
Up to 4 years old 1.25
Tax Coefficient for the Floor of a Property
Ground level and 1st floor 1
2nd and 3rd Floor 1.02
4th and 5th Floor 1.04
6th Floor and Above 1.06
In case the individual property has more than one floor (i.e. a two level apartment), the relative coefficient is calculated based on the highest floor. For detached houses, the floor coefficient stands at 1.02 and for auxiliary spaces at 0.1.
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