Real estate tax revenue falls by a third

After the Constitutional Court approved a change to real estate tax codes last fall, real estate tax revenue dipped by a third from more than €1.5 million to half a million.
Residential apartments in Vilnius
© DELFI / Mindaugas Ažušilis

The changes passed by the court indicated that real estate tax deductibles must be applied to individuals rather than to general family wealth. Two years ago, almost 1,800 individuals and families paid real estate taxes, while a few more than 1,000 paid for the last year.

According to Verslo Žinios, this is the number of people in Lithuania that control real estate worth more than €220,000.

The largest single sum paid for real estate in 2014 was almost €20,000, while the largest paid for last year was little more than €8,000.

www.lrt.lt
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