Romania’s Finance Ministry simplifies property tax

Property tax will be simplified so it doesn’t require assessment anymore, Finance Minister Anca Dragu said at local TV station Realitatea TV.

Currently, the assessment is necessary to determine the taxable value of properties owned by companies, as well as by individuals who own non-residential buildings or property that is used both for housing and an economic activity.

For residential buildings, the taxable value is currently determined based on a table in the Fiscal Code.

“We plan to simplify the property tax and remove assessment. It will be a shared base with different coefficients for the residential and non-residential segment,” Dragu said.