Spectator on facebook

Spectator on facebook

Highest growth for Real estate taxes in Slovakia since 2013

Towns and villages increase real estate taxes by 2.33 percent on average in 2017.

Taxes on real estate for doing business are the highest in Púchov.(Source: Sme)

The year 2017 has brought higher real estate taxes to Slovakia, compared with previous years. They increased by 2.33 percent on average, which is the highest increase since 2013. The Business Alliance of Slovakia (PAS) introduced its analysis of real estate taxes on January 19.

Peter Kremský, executive director of PAS, sees especially that the tax hike in Bratislava is behind the increase, as most Slovak towns did not increase their real estate taxes.

The Slovak capital increased real estate tax on apartments and houses by 30 percent and on agricultural and other constructions by 50 percent but taxes rose especially for commercial spaces in blocks of apartments – in the Old Town they almost tripled and in other boroughs they rose by 160 percent.

But it is the town of Nové Mesto nad Váhom which can boast of the highest increase in real estate taxes when businesses will pay as much as 322 percent more than last year for commercial spaces.

On average, tax rates on commercial spaces for doing business in blocks of apartments increased the most – by as much as 9 percent.

Only three towns increased real estate taxes for premises doing business - Nové Mesto nad Váhom, Martin and Medzev. Nevertheles, the tax remains the lowest in the latter - €666 for real estate 1,000 square metres large and with a plot of 1,500 square metres.

Businesses will pay the highest taxes for premises for doing business in Púchov - as much as €6,449 for the same real estate. In Bratislava’s Old Town it will be roughly €5,000. In remaining boroughs of Bratislava and in Košice it will be roughly €4,100.

But what surprises Kremský the most is that towns suffering from high unemployment are keeping their real estate taxes high.

“These towns, in spite of the high unemployment and lack of interest from investors, surprisingly do not try to draw them in with more favourable tax rates on commercial real estate,” said Kremský as cited by the TASR newswire. He believes that softer taxes might be a tool to lure new investors.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Topic: Real Estate


This article is also related to other trending topics: Finances and Advisory

Top stories

We will not allow Ján and Martina to be forgotten

Statement from Slovak journalists half a year after the murder of Ján Kuciak and Martina Kušnírová

Illustrative stock photo

Yuri Dojc: I did not want to live under occupation

Slovakia is not even close to what I remember from my life here, says the Canadian-Slovak photographer.

Yuri Dojc today: "A reflection of an older man in the mirror with glimpse of an attractive woman , who is my wife"

Our emigrants’ stories: lessons in humanity

Slovaks who fled the 1968 occupation tell us what it means to be a refugee.

Pictures from The Gift pantomime show. Milan Sladek wrote it in the Swedish Goteborg in 1969 as a metaphor of Czechoslovakia's cohabitation with the Soviet Union.

We were on the run, but we were welcomed Photo

Slovak-Swiss writer Irena Brežná was forced to emigrate but found a way to fill her life with meaning in a foreign land.

Irena Brežná arrives to Switzerland.