March 1, 2024

News Cymru

Two sides to every headline

Greek Property Taxes – Designed to reduce household wealth

Ekathimerini carried an article today outlining the proposed increases in property tax and the negative effects this will have on house prices.

The reason I highlight it is that there appears to be surprise which I do not understand.

Papademos has said he wants to reduce the wealth of Greeks. Given that most of people’s wealth is tied up in their houses burdening taxes onto homeowners is an excellent way of reducing people’s wealth.

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