Buying a house in Bulgaria, people ask themselves the question - how much does it cost to maintain the property per year? The costs depend on several factors. It is the region, the area of the object, and the location. There are also other aspects that affect the amount of the maintenance fee. We will tell you in our "Buyer Trips" how much maintenance cost can be and what it is composed of.
State taxes on real estate in Bulgaria
Foreign citizens who buy a house or apartment in this country pay the same amount of state property taxes as the locals. The maximum rate is 0.45% of the price. For individuals, the tax is based on the assessed value, and for legal entities - on the balance sheet value.
What discounts are available for taxpayers:
- If the taxpayer chooses to pay in one payment before March 31 (in advance, a year in advance), the amount will be reduced by 5%.
The second mandatory payment is the garbage tax. The rate is in the range of 0.15-0.25%. The exceptions are large cities, in the capital the rate is 1%.
When buying a private home, the owner pays land tax, which is 0.01 - 0.45% of the value of the plot.