Friday, June 7, 2019

Property Tax Chatter

I've commented on this several times in the past year, with the forced change on property tax law in Germany.  The German Supreme Court said the old method basically had to go, and has given ample time (almost two years) for a new concept to be developed and passed.

So today, they came out with a review on cost with the new method, and the chief city to be 'screwed'?  Mainz, by a 683-percent rise in property tax.  The old rate for an average property in Main was around 62-Euro per year (which most Americans would be extremely happy over that price-tag).  The new amount?  489-Euro per year, for an average lot.

A hefty amount?  Well, if you were in low income level but marginally making enough to cover your mortgage, then you probably have a minor issue on balancing your budget....to find that additional 400-plus Euro a year (figure around 500-US dollars).

Likely to get people upset and furious?  Yeah, but they've got no choice because of the court action requiring a change. 

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