It is also easier to conduct forecasts of revenues from the real estate tax than from corporate or excise taxes. Moreover, several municipalities have thus far maintained relatively low real estate tax rates.
Real estate tax rates are determined by municipalities - Last year, revenues from the real estate tax stood at roughly 1.3 billion euros. - Two-thirds of the revenue was derived from buildings and one-third from land. - Real estate tax rates are set by municipalities within limits determined by the Parliament. - Some 90 municipalities raised their real estate tax rates for this year.