Second Home
Owners with Non-Residency Status in Greece
(3-1-2008)
ALL THE INFORMATION IS NOT AVAILABLE AT THIS TIME.
MOST INFORMATION COMES OUT IN JANUARY TO THE ACCOUNTANTS.
But, some of the known highlights of the tax law changes
-
Those European Union citizens that permanently reside
here (residence permit? pension statements? Greek
TAXABLE income? etc.) will have a property tax free
home of up to 250 square meters. They must also claim
that they permanently reside here on their tax forms.
Many people do reside here permanently, but choose
not to claim that status for various reasons.
All those who
own a second home (including European Union citizens
who permanently reside abroad AND own a home in Greece),
will have a property tax to pay. At this time it appears
to be a small amount, and appears that the mechanism
for paying it will be via the tax declaration done
each year. There are formulas for determining each
person's taxable amount. 1) square meters of the home
2) value of the home - and the minimum amount is 1000
euros a square meter (this will be determined by VILLAGE,
CITY.or STATE of the home?)
The amount of tax seems extremely reasonable in comparison
to other countries. After determining the value of
the home - the tax rate is then 1/1000 of that amount.
Therefore - a home of 100 M2 valued at 1000 euros
a square meter would have a value of 100,000 euros.
There is no tax determined on the land that the house
sits on. Therefore the tax would be 100 euros.
If someone owns another piece of land that is buildable
- and labeled as such on previous E9 tax forms, then
that land will also be taxed.
If the E9 form needs to be corrected, there is an
amnesty until the end of March 2008. After that, there
will be fines at correcting an E9.
THIS MEANS ALL PROPERTY OWNERS MUST FILE A TAX FORM
THIS YEAR. PLEASE CONTACT YOUR ACCOUNTANT. MOST ACCOUNTANTS
CANNOT FILE TAX FORMS UNTIL YOUR PREVIOUS YEAR'S TAX
FORM COMES IN THE MAIL TO YOU OR YOUR TAX REPRESENTATIVE
- USUALLY FEBRUARY/MARCH. BUT, IF IN DOUBT OF ANY
POSSIBLE CHANGES THAT YOU MIGHT WANT TO CHANGE BEFORE
THE AMNESTY - PLEASE CONTACT YOUR ACCOUNTANT AS SOON
AS POSSIBLE.
