The time of ENFIA is approaching. Over 7 million property owners will see the new ‘bill’ by early April. This year the tax payment will be made in 11 monthly installments with the first to be paid by April 30, 2024 and the last by February 28, 2025.
Most taxpayers will find that they will be required to pay the same amount as they paid in 2023 as the tax will be calculated using the applicable assessed values and the same deductions. Those who acquired real estate in 2023 either through purchase or parental provision or donation will see the ravasaki “inflate” due to a change in their property image. The same will happen to the taxpayers who proceeded to settle arbitrary surfaces. On the contrary, taxpayers who sold or transferred real estate to their children or grandchildren will see the new ENFIA settlement bill “deflated”, while over 1 million taxpayers will have discounts of up to 50% and even full exemption from ENFIA based on income and property criteria. A discount of up to 10% will be available for the first time this year to the owners of approximately 300,000 houses which in 2023 were insured for earthquake, fire and flood.
Depending on the changes in the image of real estate in E9, the type, characteristics and area as well as the income and property situation of the taxpayers, the ENFIA account is set up as follows:
- A 10% discount will be given to homeowners who had insured them for the whole of 2023 cumulatively for earthquake, fire and flood. If the duration of the insurance is less than one year, the reduction is adjusted proportionally. In particular, for 9 months the discount amounts to 7.5%, for 6 months it is limited to 5% and for 3 months to 2.5%, while no reduction applies to homes that were insured for less than three months.
- A 50% discount is granted to those who cumulatively meet the following criteria:
The total taxable family income of the last tax year does not exceed 9,000 euros, increased by 1,000 euros for the spouse or common-law partner and each dependent member.
The total area of the buildings in which the person subject to income tax declaration, his or her spouse or common-law partner and the dependent children of his family have rights, taking into account the percentage of co-ownership and the type of right, does not exceed 150 sq.m. and the total value of the immovable property does not exceed the amount of 85,000 euros for a single person, 150,000 euros for a married person and his or her spouse or partner or a single-parent family with a dependent child and 200,000 euros for a married person, the or his spouse or common-law partner and their dependent children or a single-parent family with two dependent children
- Full exemption from ENFIA will be granted to households with three or more dependent children as well as those with a disability rate of over 80% under the following conditions:
The total taxable family income of the last tax year does not exceed 12,000 euros, increased by 1,000 euros for the spouse or common-law partner and each dependent member.
The total area of the buildings in which the person liable to declare income tax, his or her spouse and the dependent children of his family have rights, taking into account the percentage of co-ownership and the type of right, does not exceed 150 sq.m.
Property owners located in areas affected by natural phenomena are also exempted from paying ENFIA.
- Tax payers who in 2023:
They acquired property by purchase, parental provision, donation or inheritance. Big losers are those who bought real estate worth more than 400,000 euros as they get hit by the “gear” of the additional tax.
They acquired rights in rem to real estate (full or tenuous ownership, usufruct).
They arranged arbitrary spaces.
- Without changes, the liquidation bill will reach taxpayers who had no change in their property situation in 2023, that is, they did not acquire or transfer real estate.
- Those who transferred property in the previous year will pay less tax, as a result of which the taxable value of their property will decrease.
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