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The Ministry of Finance has decided to postpone to 2025 the adoption of the law that allows the revaluation of properties with a lower tax.
While the real estate revaluation was expected to take effect in September as announced, the finance minister at the productive activity commission said the reform of setting property references across the country has not yet been completed.
"The revaluation of real estate will be done in parallel with the setting of reference prices for the entire territory of Albania, in order to benefit everyone. It is a process that will last throughout the next year when the new references are made", said Finance Minister Malay.
If a property is sold today, 15% tax will be paid on the difference between the registered value of the property and the value at which it was sold, while with the revaluation the tax will be lower. Earlier, Prime Minister Rama spoke for a tax of 5%, but the final figure has not yet been decided.
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