Finance Ministry proposes increased taxable values
The Finance Ministry has recommended a revised bailout agreement that proposes the creation of an entity within the ministry that would update objective values as prior actions. Creditors have been urging the ministry to develop an automatic mechanism to revise objective values, which are property rates used for taxes, and the ministry is now considering the establishment of increased taxable values.
Creditors must first approve the increased values before the ministry can finalize its decision.
Once ministry agencies and political leadership have examined the new objective values, the new zone rates across Greece will be calculated.
A prior proposal, which included two sets of objective values, was abandoned due to predicted legal problems, according to sources.