Ivan Takov criticizes planned Bulgarian property tax increases

Ivan Takov, chairman of the Bulgarian Socialist Party (BSP) in Sofia, has criticized the government's plan to increase property tax assessments, labeling a mechanical increase as socially unjust.

The proposed plan involves a 30% increase in tax assessments starting in 2027, followed by additional increases of 35% over the subsequent two years, effectively doubling current values by the end of 2029. Takov argues that while assessments need updating after nearly 20 years, a uniform increase fails to differentiate between different types of owners.

He emphasized that there should be a distinction between pensioners living in a single long-held apartment and investors owning multiple properties for rent. Takov suggested that wealthier individuals should bear a greater share of the tax responsibility. He also noted that higher assessments would impact municipal revenues through real estate taxes, property transfer fees, and waste management fees. Additionally, he criticized the Sofia Municipality for its lack of housing policy over the last 35 years, noting the significant reduction in the municipal housing fund since 1990.