Thu09202018

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Council Tax Increase

The amount of "council tax" which Bulgarian property owners will have to pay is due to be increased for 2009. Parliament approved amendments to the Act for Local Taxes which will result in the tax valuation of property increasing by 50% from January next year.

The increase is due to property prices growing and the fact that tax valuations have remained so low.

 


 It is also a measure to counter the "grey" market, where buyers place the tax valuation on the deeds in order to avoid taxation. Eventually tax valuation and market price which is paid will become the same to stop this practice.

It is now up to the municipalities to decide whether the tax rate will be increased; the majority say that they will not increase the rate of tax.

The lowest and highest taxes for acquisition and inheritance of property  have been altered to compensate for the increase in tax valuation.