Higher property tax could bring a billion

BusinessEconomy ♦ Published: July 5, 2010; 00:00 ♦ (Vindobona)

A convergence of calculation basis to real market values could, according to the Wifo, generate additional income of half a billion Euros.

Higher property tax could bring a billion / Picture: © Vindobona.org

The IHS (Institute for Advanced Studies) predicts similar figures.

The International Monetary Fund (IMF) recommends a higher property tax for Austria. Revenues from the municipal tax are stagnant. Although the private real estate assets, according to National Bank, are worth at least €690b ($863.6b), the assessed values upon which the taxes were assessed, were levied in 1973…