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BULGARIA UPS PROPERTY TAX VALUATIONS BY 20%

2006-11-29   |  Novinite.com

Property tax valuations will be increased 20% as of the beginning of 2007 under amendments to the local taxes and fees act. Bulgaria's parliament adopted the amendments on Wednesday, citing an increase in market prices over the last year.

The latest update of property tax valuation levels in Bulgaria was made at the end of 2005, when they were raised by up to 50%.

The new increase will not only boost, but even exceed the "Building" tax, which is estimated on the base of valuation taxes.
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