“We are close to finalizing the updated reference prices for properties. With property values increasing by 26%, this will directly boost revenues for local self-government units,” Minister Malaj said during a meeting with local government representatives, also attended by Prime Minister Edi Rama and other government officials.

He stressed that property tax is a key revenue source for municipalities throughout Europe and should be given equal significance and weight in Albanian municipalities.

Alongside the update of reference prices, the Ministry of Finance will also undertake a property revaluation applying a reduced tax rate.

Malaj stated, “This mechanism will enable citizens, alongside the new property value, to also carry out a real revaluation of the assets they currently own.”
According to him, this process will help not only in establishing a more equitable and accurate property taxation system but also in strengthening local finances in a sustainable and long-term manner.

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