Progressive Bulgaria proposes 100% increase in property tax assessments

The political movement Progressive Bulgaria has proposed a plan to significantly increase property tax assessments over the next several years. The proposal suggests a 30% increase starting in 2027, followed by 35% increases in both 2028 and 2029, potentially totaling a 100% increase over the three-year period.

Financial experts note that these changes will impact households by increasing annual property taxes and raising local taxes paid during real estate transactions. For example, a property currently valued at 100,000 euros could see its assessment rise to 130,000 euros, leading to higher transaction costs.

Economists suggest that because tax assessments have not been updated for many years, a gradual increase rather than a sudden shock is a reasonable approach. The impact on municipal budgets and whether the full 100% indexation will be implemented remains to be seen. Citizens have expressed expectations for improved local infrastructure, roads, and public services in exchange for higher local taxes.