The possibility of a further reduction of ENFIA’s 20% by 20% in 2020 is open, Finance Minister Christos Staikouras said in a statement today to Real Fm. There is a serious likelihood that the minister, in May 2020, before the new liquidations, may generate additional budgetary space to reduce the ENFIA.
Specifically, referring to the decline of ENFIA, Christos Staikouras explained that “the first step was taken this year with the 22% average weighting, giving particular importance to the lower income classes. Another step is pending. The next step is another 10% reduction, which we have not yet put in the 2020 Budget. And that is because we have begun a relatively recent exercise, with the goal of completing it by May 2020 so that we can reform the framework for determining the real values of real estate in our country. With two key elements: one is the extension and rationalization of the system of property value zones, and the other is the standardization and improvement of the process of the system of private appraisers. Our goal is to make real estate taxation more efficient and socially fair. There is a strong likelihood that in May 2020, before the new liquidators, additional fiscal space will be directed towards reducing the ENFIA for households that have been consistently paying very high liabilities for their real estate in recent years. “