Hungary - New Property Tax In 2009 - Report
July 11th, 2007 by Dino
BUDAPEST -(Dow Jones)- The Hungarian government will launch a new, unified property tax in 2009 and not in 2008 as predicted by the finance ministry earlier this week, Finance Minister Janos Veres said on national television Friday.
The government needs more time to prepare the new levy, which will unify five current property-related taxes, Veres said. The level of the new tax will be up to 2% of the value of the real estate.
The five current real estate taxies generate annual revenue of 65 billion forints ($359.9 million), Veres added.
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