Changes to the taxable values of property in Greece are expected to cause fluctuations to other taxes and fees pertaining to real estate. According to the Greek daily newspaper Eleftheros Typos, secondary taxes affected by taxable property values are as follows:

1) The Single Property Tax (ENFIA) which is imposed according to the zone price per square metre and is applicable to the area of each property. According to government announcements, the possible upward impact of new objective values in certain regions will be offset by other parametres aimed at keeping taxation in check.

2) The supplementary ENFIA which is imposed on the sum of the taxable value of the buildings and plots owned by people provided the sum exceeds 250,000 euros.

3) The property transfer tax (FMA) which is calculated at three per cent of the objective value of each property sold and burdens the buyer. First home buyers are exempt from this tax for properties of up to 200,000 euros (single) and 250,000 euros (de facto or married), and the exemption increases for up to two children at 25,000 euros per child and then 30,000 euros for each additional offspring.

4) A 24 per cent VAT tax for sales of newly-built structures which are not first homes.

5) The usufruct tax, where according to Greek law, legal entities are liable to pay a yearly special property tax of 15 per cent of the properties’ value in cases of temporary ownership.

6) Tax exemption and land consolidation.

READ MORE: Property in Greece: A checklist on family inheritances

7) The property distribution tax.

8) The TAP levy which municipalities incorporate in electricity bills and is estimated to be from 0.25 per cent and 0.35 per cent of the objective value of the structures being supplied electricity.

9) Municipal tax which is charged on property transfers.

10) Contract duties.

11) Tax for the gifting of property with a non-taxable amount of 150,000 and contribution of 1-10 per cent for offers towards spouses, children or grandchildren, and  a non-taxable amount of 30,000 euros for properties towards other relatives of a second degree and 6,000-euro non-taxable amount to other relatives.

12) The parental property tax calculated with tax-free limits and rates similar to the gifting and donating of real estate.

13) The inheritance tax which is calculated with tax-free limits and rates similar to the taxes pertaining to donations.

READ MORE: Do you own property in Greece? ENFIA dues will be released on Monday

14) The duty for the registration of property on the Hellenic Cadastre.

15) Fines for the maintenance of unlicensed structures.

16) Urban planning fines for the construction of new unlicensed structures.

17) Contributions in land and money for the inclusion of property to the town planning records.

18) The special real estate tax of 15 per cent for offshore real estate companies.

19) Fringe benefits taxes pertaining to real estate or free accommodation.