New property tax ratios are about to be revised

The government recognizes the need for a new review of location factors, which are supposed to be "additive" to the market. The government plans to "shortly" update location factors, which are used in determining the Property Tax Value (PTV) of a property and can therefore affect the property tax that owners must pay.

Nunu Felish, tax secretary, believes that the tax value of real estate is outdated.

"There is a commission at this level called CNAPU, the National Commission for the Valuation of Urban Buildings,