The government will proceed with a re-evaluation of real estate objective criteria so that by Jan. 1, 2017 the rates used by the state to tax property are based more closely on commercial values.
The re-evaluation is part of the third bailout (memorandum) signed by the leftist Greek government in August 2015.
As a result, rates for many areas are expected to increase by 25 to 50 percent, particularly in low-income or working-class districts, both in urban areas and rural areas.
For instance, those same areas today have objective tax criteria on real estate between 500 and 600 euros per square meter, will be raised to the level of 750 euros per square meter.
