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Greek property tax totals up considerably in recent years

Different countries undergo different trends when it comes to property taxes. Recent data points to Greece being in a trend of rising property tax totals in recent times.

According to the data, Greek property taxes came in at 3.5 billion euros in 2016. This is up several times from where the totals were just a handful of years previous. For example, the total amount of Greek property taxes paid in 2009 only came up to 500 million euros.

As this underscores, one of the big issues that can be present in connection to Greek real estate these days are property taxes. Among the things such taxes can impact is how much value a given Greek property would actually have for a person or business. So, such taxes can be an important thing to factor in in a wide range of different legal issues that can come up for a Greek American, including:

  • Business matters related to Greek property.
  • Transactions involving Greek real estate.
  • Estate planning involving Greek assets.
  • Matters related to receiving an inheritance of Greek property.
  • Property division in divorces in which some of a couple’s property is in Greece.

Failing to take property tax matters into account when navigating such issues could lead to a person making key decisions when they are short of some important and impactful pieces of information. Lawyers knowledgeable in U.S.-Greek legal issues can help Greek Americans with factoring in property tax issues and other relevant issues when it comes to legal matters that involve Greek real estate.

Source: Greek Reporter, “Property Tax in Greece Went Up Sevenfold in 7 Years,” Philip Chrysopoulos, March 16, 2017

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Hahalis & Kounoupis, P.C. - Greek Law Group
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Hahalis & Kounoupis, P.C. - Greek Law Group