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Real estate tax in Bratislava to increase

The city treasury would add €8 million more to its current annual income from the tax of €55 million.

Illustrative stock photo(Source: SME)

Members of the City Council decided to raise the tax for flats by 30 percent at a meeting in late-June. In addition, residents will pay a tax increase of 150 percent for building land, 50 percent for agricultural buildings, 10 percent for cottages and garages and 50 percent for other buildings, including ministries. The city treasury would get €8 million more to add to its current annual income from the tax of €55 million, the TASR newswire reported.

Till now, residents have annually paid about €27 for 67 square metres of flat and €66 for 120 square metres of house. After the increase, they will have to pay €35 for a flat, or €86 for a house.

Bratislava Mayor Ivo Nesrovnal argues that the real estate tax is the largest income in the capital which the council can directly affect. He justifies the increase by the low level of state funding, limits in drawing from  EU funds and a high degree of solidarity with the rest of the country.

“We will use more finances for roads, purity, greenery and political priorities,” said Nesrovnal, as quoted by TASR, adding that,

Read also: Read also:Falling supply of available flats increases prices

City authorities want to invest about €3 million per year in the repair of roads, €550,000 in care for greenery and €450,000 in the priorities of representatives. Moreover, Nesrovnal pointed out that half of the additional tax, approximately €4 million, goes towards the budgets of the municipalities.

The City Council also approved the omission of building land from the tax rebate of 50 percent for people older than 70 years and a drop in the age limit for redemption of tax for houses and flats to 65 years. Until now residents over 65 years have paid about 50 percent less tax now it will be 60 percent.

Nesrovnal had already prepared a proposal for an 100-percent increase of real estate tax in some categories last year, however, after a wave of criticism he modified the increase for flats to70 percent, TASR reported.

Topic: Real Estate


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