Bulgaria Proposes Progressive Property Tax and Valuation Hikes
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Bulgaria proposes progressive property tax and valuation hikes
Bulgaria is preparing a significant overhaul of its property tax system, a move that experts warn could place a heavy financial burden on both multi-property owners and ordinary tenants. The proposed introduction of a progressive tax scale for secondary and subsequent real estate assets risks driving up rental prices, as landlords are likely to pass increased fiscal obligations on to their tenants during lease renewals. Martin Kostov, an attorne…
The biggest property reform in a decade has already begun. The Radev Cabinet is fulfilling its commitment to update the tax assessments of properties that have not been touched for more than 10 years, and there is currently a huge difference between the tax and market price. MPs are raising the tax assessments of properties. This is happening with the consideration of the first reading of the Bill on Amendments and Supplements to the Local Taxes…
Parliament passed a phased increase in property tax assessments on first reading. It will start in 2027 and continue until 2029. The opposition accused the government of coming to power with requests not to raise taxes, but instead doing so....
On the first vote, the parliament adopted a bill amending and supplementing the Law on Local Taxes and Fees, which introduces a phased update of the basic tax values used in determining the tax assessment of real estate. The proposal, submitted by the Council of Ministers, covers a three-year period, with the correction for 2027 amounting to a 30% increase, […]
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