forumland Blog
Real estate taxation: What we need to know!
10 October, 2021
The Real Estate Transfer Tax (RTT), which is calculated at 3% on the objective value of each sold property and is borne by the buyer. The purchase of a first home of objective value is exempt from this tax:
– up to 200,000 euros if it is carried out by a single person,
– up to 250,000 euros if it is carried out by married or cohabiting couples, who are not burdened with children. For each dependent child up to two, the above exemption limits are increased by 25,000 euros. For each additional child beyond the second, the limits are further increased by 30,000 euros.
Equating objective and actual values
The government plans to proceed with an adjustment of the objective taxable values within 2021. In particular, the readjustment of the objective - taxable values of real estate to the levels of real estate market prices is promoted. The measure will help increase the amount of property tax revenue in certain areas of the country where now the level of objective values is significantly lower compared to commercial values, as well as in areas of the country with very high property values (luxury holiday areas). , which until now were not taken into account.
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- Real Estate News / Articles