Call
Send Email
Messenger
WhatsApp
Tax Valuation of Properties Increases by 50 Percent
The tax valuation of properties in Bulgaria is to increase by 50 percent in 2009. This is what the changes in the Law on Local Taxes and Fees proposed by the Ministry of Finance and adopted on second reading in the Parliament stipulate.
What are to be corrected are the location coefficients which have the greatest weight in defining the tax valuation. What is taken into consideration is the location of the property – by category and zone, whether the property is within construction limits or outside them, whether it is in a holiday home zone and for industrial and farming properties – whether they are in an advantageous or disadvantageous position regarding the infrastructure.
The increase in the valuation is done due to the increase in market prices of real estate and the lagging behind of the tax valuations. Meanwhile, property tax promilles will decrease and for the next year they are offered to be between 1 and 2 promilles (currently they are between 1.5 and 3 promilles). This means that the highest property tax will amount to 2 thousandths of its valuation. This way despite of the increase in the tax valuation the end sum property owners pay will not change, the Ministry of Finance claim.
If you have any questions please contact us
Read more news
More News
After a rapid increase in house prices in these cities, we are seeing a slight slowdown in growth rates by between 2 and 5 percentage points compared to those of the end of last year.
The fastest price growth continues in Varna, where growth accelerated only after mid-2022 and currently remains at levels close to 20%, while in Plovdiv and Burgas we report an annual growth of around...
2024 kicked off with a dynamic property market in Bulgaria, and this activity was sustained throughout the first quarter, making it one of the strongest quarters in housing market history. This was confirmed by data from the Registry Agency, which showed an increase in sales volumes in the country's leading markets.
This year, the market switched into a higher gear. T...
Spring is here, bringing new opportunities in the real estate market!
March was a month full of property transactions, reinforcing market activity and allowing us to successfully conclude the first quarter of the year. We witnessed significant movement not only in the major cities but also in our favorite seaside and ski resorts. Additionally, the season for buying rural houses is i...
We are proud to announce the opening of our new office in the city of Dupnitsa, located at Knyaz Boris I Street, No. 1, Floor 1.
This strategic move is part of our mission to be as close as possible to our customers and to provide high quality local service for both buyers and sellers.
In our new office, clients will be able to take advantage of the ful...
