Higher tax for second-owned houses
07/10/2017 00:00
The Washington Agreement Must Be Reactivated! 06/01 19:04
Besides involving small businesses in the VAT scheme, the new fiscal
package brings another important change related to property tax.
This tax will not be fixed any longer, but it will be based on the value of the property.
Regardless of the formula, the tax burden for first properties is not expected to grow. It may be on the same level.
But tax will increase for second homes. Families with more than an apartment will have to declare their first one.
The first house will have a lower tax, while the second, third and so on will have higher taxes.
The Ministry of Finances has been working for several years no to build a fiscal register with the entire inventory of real estate properties.
This register will be the main database for property tax. According to IMF, Albania is one of the countries that collects less from the tax property.
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