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Starting from 2026, citizens who own more than one home will pay two to four times more property tax.
A tax which is currently levied from the water bill in the amount of 0.05%, after two years will be paid from 0.1%-0.5%, writes A2.
"The first for the city of Tirana, citizens now pay a higher tax due to the review of the reference price from 30-75%. It is already paid in Tirana, while abroad the reference prices will be revised and the new draft law will be implemented. Today, we currently have 0.05% on the value of the property, it will go up to 2% on the value of the property", said Reinaldo Pipiria from "NAREA" for A2 CNN.
But translated into monetary value, how much more will an individual have to pay for their home with the property tax increase from 2026?
"The tax for a property of 130 thousand euros with a 0.05% tax would be 65 euros, at a moment when the law comes into force it should go up to 260 euros. Especially for the second and third house, while for the first house, the municipal council has several schemes where you can reduce the part of the tax", explained Pipiria from "NAREA" to A2 CNN.
With the current tax until August, the state budget has benefited from the property tax of about 55 million euros. On the other hand, a change in taxation is also proposed for the revaluation of properties, a process which has stalled even though it should have started implementation, reports A2.
"The revaluation process has stalled in the Ministry of Finance. There is an approach from this institution, which says that it should review all reference prices, especially in 14 municipalities. It's totally an uncertainty, the market has reacted very badly, the supply has hardened and the middle class is losing as it cannot carry out transactions."
The last asset revaluation process started in 2020 and ended in August 2022, and from which 168,200 assets were reassessed, bringing the state budget and the budget 12.7 billion ALL in revenue./ A2CNN
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